Disciplined Investors L.L.C. Makes New $293,000 Investment in ONEOK, Inc. (NYSE:OKE)

Disciplined Investors L.L.C. purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,818 shares of the utilities provider's stock, valued at approximately $293,000.

A number of other institutional investors have also recently bought and sold shares of OKE. FNY Investment Advisers LLC increased its stake in shares of ONEOK by 14,279.1% in the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider's stock valued at $2,208,000 after buying an additional 21,847 shares during the period. Kingswood Wealth Advisors LLC boosted its stake in ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider's stock worth $1,456,000 after acquiring an additional 5,321 shares during the last quarter. Simon Quick Advisors LLC acquired a new stake in ONEOK during the 4th quarter worth $251,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of ONEOK by 9.7% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider's stock valued at $155,038,000 after purchasing an additional 136,071 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new stake in ONEOK during the 4th quarter worth approximately $9,483,000. Institutional investors and hedge funds own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Citigroup assumed coverage on ONEOK in a report on Friday, February 28th. They issued a "buy" rating and a $110.00 price objective for the company. Scotiabank reduced their target price on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 6th. Finally, Wells Fargo & Company decreased their target price on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ONEOK presently has an average rating of "Moderate Buy" and a consensus price target of $105.00.

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ONEOK Stock Up 1.3 %

OKE traded up $1.07 during midday trading on Tuesday, hitting $81.98. The company had a trading volume of 2,206,129 shares, compared to its average volume of 3,110,379. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The company has a market capitalization of $51.19 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 3.77 and a beta of 1.20. The stock's 50 day moving average price is $96.69 and its 200 day moving average price is $100.21. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 5.03%. ONEOK's dividend payout ratio is 79.69%.

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.