Ibex Wealth Advisors Makes New $18.01 Million Investment in ONEOK, Inc. (NYSE:OKE)

Ibex Wealth Advisors acquired a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 179,427 shares of the utilities provider's stock, valued at approximately $18,014,000. ONEOK makes up about 2.1% of Ibex Wealth Advisors' holdings, making the stock its 7th biggest position.

Several other hedge funds have also recently bought and sold shares of OKE. Astoria Portfolio Advisors LLC. increased its holdings in ONEOK by 4.1% during the 4th 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 period. Mutual Advisors LLC raised its holdings in ONEOK by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider's stock valued at $965,000 after acquiring an additional 103 shares in the last quarter. Morton Capital Management LLC CA grew its holdings in ONEOK by 1.4% during the 4th 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. HM Payson & Co. increased its position in shares of ONEOK by 6.3% in the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider's stock valued at $161,000 after purchasing an additional 105 shares during the last quarter. Finally, Bill Few Associates Inc. raised 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 purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Trading Down 0.5 %

Shares of OKE traded down $0.47 on Thursday, hitting $99.91. 15,935,791 shares of the stock traded hands, compared to its average volume of 3,914,116. ONEOK, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07. The stock's 50 day moving average is $105.25 and its two-hundred day moving average is $96.95. The firm has a market capitalization of $58.36 billion, a P/E ratio of 20.90, a P/E/G ratio of 4.03 and a beta of 1.70. 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 posted its 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). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the company posted $0.99 EPS. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently declared 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 yield of 4.12%. This is a boost from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK's dividend payout ratio is 82.85%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on OKE shares. Royal Bank of Canada upped their price target on ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a report on Wednesday, October 16th. Barclays raised their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an "equal weight" rating in a research note on Monday, November 4th. Bank of America began 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 started coverage on ONEOK in a report on Friday, January 10th. They issued a "sector outperform" rating and a $109.00 price objective on the stock. Finally, Mizuho raised ONEOK to a "hold" rating in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, ONEOK currently has an average rating of "Moderate Buy" and an average target price of $102.92.

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.