InvesTrust Acquires New Stake in ONEOK, Inc. (NYSE:OKE)

InvesTrust purchased a new position in ONEOK, Inc. (NYSE:OKE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,352 shares of the utilities provider's stock, valued at approximately $1,144,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Matrix Trust Co purchased a new stake in ONEOK in the third quarter worth about $29,000. Quest Partners LLC bought a new position in shares of ONEOK in the 2nd quarter worth $28,000. Access Investment Management LLC purchased a new stake in shares of ONEOK during the 3rd quarter worth $37,000. Values First Advisors Inc. bought a new stake in ONEOK during the third quarter valued at about $44,000. Finally, Fortitude Family Office LLC raised its holdings in ONEOK by 37.4% in the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider's stock worth $45,000 after purchasing an additional 135 shares in the last quarter. Institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

Shares of ONEOK stock traded up $1.07 on Wednesday, hitting $102.68. 2,736,226 shares of the company were exchanged, compared to its average volume of 2,565,804. 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 50-day moving average price of $105.22 and a 200 day moving average price of $94.49. The stock has a market capitalization of $59.98 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 5.24 and a beta of 1.70. ONEOK, Inc. has a 1-year low of $67.05 and a 1-year high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly 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 firm had revenue of $5.02 billion during the quarter, compared to analysts' expectations of $5.81 billion. During the same period last year, the company earned $0.99 EPS. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.86%. ONEOK's payout ratio is currently 82.85%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on OKE shares. Wells Fargo & Company downgraded shares of ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 price objective on the stock. in a research report on Wednesday, December 18th. Morgan Stanley upgraded ONEOK from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $103.00 to $111.00 in a report on Monday, September 16th. Royal Bank of Canada boosted their target price on ONEOK from $89.00 to $98.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 16th. UBS Group increased their price target on ONEOK from $112.00 to $132.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Finally, Mizuho upgraded shares of ONEOK to a "hold" rating in a report on Thursday, November 7th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $101.00.

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.