ONEOK, Inc. (NYSE:OKE) Shares Acquired by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 448.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,065 shares of the utilities provider's stock after purchasing an additional 11,501 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in ONEOK were worth $1,412,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Matrix Trust Co acquired a new stake in shares of ONEOK in the third quarter worth $29,000. Kieckhefer Group LLC purchased a new position in ONEOK in the fourth quarter valued at about $30,000. Access Investment Management LLC acquired a new position in shares of ONEOK during the third quarter worth about $37,000. Values First Advisors Inc. purchased a new stake in shares of ONEOK in the third quarter worth about $44,000. Finally, Fortitude Family Office LLC grew its stake in shares of ONEOK by 37.4% in the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider's stock valued at $45,000 after buying an additional 135 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Performance

Shares of OKE traded up $0.05 during mid-day trading on Tuesday, hitting $100.50. The stock had a trading volume of 4,078,235 shares, compared to its average volume of 3,114,375. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market cap of $58.71 billion, a PE ratio of 21.03, a PEG ratio of 4.03 and a beta of 1.70. The company's fifty day simple moving average is $105.76 and its two-hundred day simple moving average is $96.82.

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

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Monday, February 3rd. This is an increase from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio is currently 82.85%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on OKE shares. UBS Group upped their price target on ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Barclays upped their target price on shares of ONEOK from $94.00 to $99.00 and gave the company an "equal weight" rating in a research note on Monday, November 4th. 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. Scotiabank began coverage on shares of ONEOK in a research report on Friday, January 10th. They issued a "sector outperform" rating and a $109.00 price objective for the company. Finally, US Capital Advisors raised ONEOK from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $102.92.

ONEOK 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.