Gateway Wealth Partners LLC Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Gateway Wealth Partners LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,858 shares of the utilities provider's stock, valued at approximately $689,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Astoria Portfolio Advisors LLC. grew its holdings in shares of ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider's stock worth $260,000 after purchasing an additional 96 shares during the last quarter. Mutual Advisors LLC increased its position in ONEOK by 1.2% during 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 during the period. Morton Capital Management LLC CA lifted its stake in ONEOK by 1.4% in the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider's stock valued at $734,000 after buying an additional 104 shares during the last quarter. HM Payson & Co. boosted its holdings in shares of ONEOK by 6.3% in the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider's stock valued at $161,000 after acquiring an additional 105 shares during the period. Finally, Bill Few Associates Inc. increased its holdings in shares of ONEOK by 3.9% in the 4th quarter. Bill Few Associates Inc. now owns 2,773 shares of the utilities provider's stock valued at $278,000 after acquiring an additional 105 shares during the period. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Stock Performance

ONEOK stock traded down $0.10 during mid-day trading on Wednesday, hitting $100.51. 2,346,793 shares of the company's stock traded hands, compared to its average volume of 3,085,533. 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, Inc. has a one year low of $67.05 and a one year high of $118.07. The firm has a 50 day moving average price of $105.51 and a 200 day moving average price of $96.93. The company has a market cap of $58.71 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the previous year, the business posted $0.99 earnings per share. On average, equities analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on OKE. UBS Group raised their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Wells Fargo & Company cut ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 price target on the stock. in a report on Wednesday, December 18th. Bank of America began coverage on ONEOK in a report on Thursday, October 17th. They set a "buy" rating and a $105.00 price objective for the company. Royal Bank of Canada upped their target price on ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a report on Wednesday, October 16th. Finally, Scotiabank assumed 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 on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, ONEOK presently has an average rating of "Moderate Buy" and a consensus price target 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.