FIL Ltd Takes Position in ONEOK, Inc. (NYSE:OKE)

FIL Ltd purchased a new position in ONEOK, Inc. (NYSE:OKE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 9,089 shares of the utilities provider's stock, valued at approximately $913,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Astoria Portfolio Advisors LLC. raised its position in ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider's stock valued at $260,000 after purchasing an additional 96 shares in the last quarter. McAdam LLC lifted its position in ONEOK by 3.8% in the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider's stock worth $262,000 after buying an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC lifted its position in ONEOK by 0.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider's stock worth $1,262,000 after buying an additional 100 shares during the last quarter. Mutual Advisors LLC boosted its stake in ONEOK by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider's stock worth $965,000 after buying an additional 103 shares in the last quarter. Finally, Morton Capital Management LLC CA raised its stake in shares of ONEOK by 1.4% during the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider's stock worth $734,000 after acquiring an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Stock Up 1.6 %

NYSE:OKE traded up $1.39 during mid-day trading on Friday, hitting $86.19. 2,756,451 shares of the company's stock were exchanged, compared to its average volume of 3,156,551. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The business has a fifty day moving average price of $93.64 and a 200 day moving average price of $99.37. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07. The company has a market cap of $53.84 billion, a PE ratio of 18.03, a P/E/G ratio of 3.77 and a beta of 1.20.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.78%. ONEOK's payout ratio is 79.69%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Wells Fargo & Company reduced their price target on ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley raised their target price on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Barclays cut their price target on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. Finally, Scotiabank reduced their price target on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $106.42.

About ONEOK

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.