Atria Investments Inc Boosts Stake in ONEOK, Inc. (NYSE:OKE)

Atria Investments Inc increased its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 21.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,536 shares of the utilities provider's stock after buying an additional 4,975 shares during the quarter. Atria Investments Inc's holdings in ONEOK were worth $2,865,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in ONEOK by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider's stock worth $1,848,844,000 after purchasing an additional 934,007 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in ONEOK in the third quarter valued at approximately $47,957,000. National Pension Service increased its stake in ONEOK by 65.3% during the fourth quarter. National Pension Service now owns 1,262,741 shares of the utilities provider's stock worth $126,779,000 after acquiring an additional 498,908 shares during the last quarter. Yaupon Capital Management LP purchased a new stake in ONEOK in the third quarter valued at $45,194,000. Finally, Strategic Financial Concepts LLC lifted its stake in shares of ONEOK by 10,153.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider's stock valued at $49,662,000 after purchasing an additional 489,821 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

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ONEOK Stock Up 0.4 %

Shares of OKE stock traded up $0.33 during trading hours on Tuesday, reaching $91.75. 743,895 shares of the stock were exchanged, compared to its average volume of 4,048,503. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07. The business's fifty day moving average is $99.81 and its two-hundred day moving average is $99.49. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market capitalization of $57.28 billion, a P/E ratio of 19.27, a P/E/G ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate 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 return on equity of 16.84% and a net margin of 14.05%. As a group, research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK's previous quarterly dividend of $0.99. ONEOK's payout ratio is currently 79.69%.

Wall Street Analyst Weigh In

A number of research analysts have commented on OKE shares. US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price for the company in a report on Monday, February 10th. Barclays cut their target price on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research report on Friday. Citigroup started coverage on ONEOK in a research note on Friday, February 28th. They issued a "buy" rating and a $110.00 price objective for the company. Finally, UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the company a "buy" rating in a report on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ONEOK has a consensus rating of "Moderate Buy" and an average price target of $103.31.

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.