SageOak Financial LLC Invests $1.56 Million in ONEOK, Inc. (NYSE:OKE)

SageOak Financial LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 15,497 shares of the utilities provider's stock, valued at approximately $1,556,000. ONEOK accounts for about 1.4% of SageOak Financial LLC's investment portfolio, making the stock its 12th biggest holding.

A number of other institutional investors also recently modified their holdings of the company. Astoria Portfolio Advisors LLC. grew its stake in shares of ONEOK by 4.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider's stock worth $260,000 after acquiring an additional 96 shares during the last quarter. McAdam LLC grew its stake in shares of ONEOK by 3.8% in the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider's stock worth $262,000 after acquiring an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC grew its stake in shares of ONEOK by 0.8% in the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider's stock worth $1,262,000 after acquiring an additional 100 shares during the last quarter. Mutual Advisors LLC grew its stake in shares of ONEOK by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider's stock worth $965,000 after acquiring an additional 103 shares during the last quarter. Finally, Morton Capital Management LLC CA grew its stake in shares of ONEOK by 1.4% in the fourth 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 during the last quarter. Institutional investors own 69.13% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have recently issued reports on OKE. Citigroup assumed coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a "buy" rating and a $110.00 price objective on the stock. US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Barclays decreased their price target on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company decreased their price target on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Finally, Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a research note on Monday, February 10th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ONEOK currently has an average rating of "Moderate Buy" and a consensus price target of $103.31.

ONEOK Price Performance

Shares of NYSE OKE traded down $1.20 during midday trading on Friday, reaching $99.45. 9,379,327 shares of the company traded hands, compared to its average volume of 2,859,821. The stock's 50-day simple moving average is $98.94 and its 200-day simple moving average is $99.86. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. The firm has a market cap of $62.09 billion, a PE ratio of 20.81, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion during the quarter, compared to analysts' expectations of $6.18 billion. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is a boost from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK's payout ratio is currently 79.69%.

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.