Contravisory Investment Management Inc. Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Contravisory Investment Management Inc. acquired a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 94,453 shares of the utilities provider's stock, valued at approximately $9,483,000. ONEOK comprises approximately 2.0% of Contravisory Investment Management Inc.'s holdings, making the stock its 16th largest holding.

Other hedge funds have also added to or reduced their stakes in the company. Essex Savings Bank bought a new stake in shares of ONEOK in the fourth quarter valued at $313,000. CHURCHILL MANAGEMENT Corp increased its holdings in ONEOK by 0.4% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 281,715 shares of the utilities provider's stock worth $28,284,000 after acquiring an additional 1,180 shares during the last quarter. Burney Co. raised its stake in ONEOK by 2.7% in the 4th quarter. Burney Co. now owns 6,615 shares of the utilities provider's stock valued at $664,000 after acquiring an additional 173 shares during the period. Park Avenue Securities LLC lifted its holdings in ONEOK by 10.3% during the fourth quarter. Park Avenue Securities LLC now owns 7,602 shares of the utilities provider's stock valued at $763,000 after purchasing an additional 709 shares during the last quarter. Finally, Kathmere Capital Management LLC boosted its position in ONEOK by 4.0% during the fourth quarter. Kathmere Capital Management LLC now owns 3,941 shares of the utilities provider's stock worth $396,000 after purchasing an additional 153 shares during the period. Institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

ONEOK stock traded up $1.71 during mid-day trading on Thursday, hitting $108.59. 2,848,306 shares of the company traded hands, compared to its average volume of 2,637,308. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a one year low of $67.05 and a one year high of $118.07. The stock has a market cap of $63.43 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 4.35 and a beta of 1.70. The stock has a fifty day moving average price of $106.04 and a 200-day moving average price of $95.36.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the prior year, the firm posted $0.99 earnings per share. On average, equities analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on OKE. Bank of America started coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a "buy" rating and a $105.00 price target on the stock. US Capital Advisors upgraded ONEOK from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, November 26th. Royal Bank of Canada lifted their price target on ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 16th. Barclays increased their price objective on ONEOK from $94.00 to $99.00 and gave the stock an "equal weight" rating in a report on Monday, November 4th. Finally, Mizuho raised ONEOK to a "hold" rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of "Moderate Buy" and an average target price of $101.54.

ONEOK Company Profile

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.