Sagespring Wealth Partners LLC Makes New $509,000 Investment in ONEOK, Inc. (NYSE:OKE)

Sagespring Wealth Partners LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,068 shares of the utilities provider's stock, valued at approximately $509,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of OKE. Kieckhefer Group LLC bought a new stake in ONEOK during the 4th quarter worth about $30,000. Canton Hathaway LLC bought a new position in ONEOK in the 4th quarter worth approximately $40,000. J.Safra Asset Management Corp acquired a new position in ONEOK during the 4th quarter worth $48,000. VSM Wealth Advisory LLC bought a new position in ONEOK in the 4th quarter valued at $50,000. Finally, OFI Invest Asset Management acquired a new stake in shares of ONEOK in the 4th quarter valued at $51,000. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Up 1.6 %

OKE traded up $1.39 during trading on Friday, hitting $86.19. The company had a trading volume of 2,756,451 shares, compared to its average volume of 3,156,551. The firm's 50-day moving average price is $93.64 and its 200 day moving average price is $99.37. The company has a market capitalization of $53.84 billion, a PE ratio of 18.03, a PEG ratio of 3.77 and a beta of 1.20. 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 $75.48 and a one year high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data 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 net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. As a group, equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. This is an increase from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.78%. The ex-dividend date was Monday, February 3rd. ONEOK's dividend payout ratio (DPR) is 79.69%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on OKE shares. Citigroup started coverage on ONEOK in a report on Friday, February 28th. They issued a "buy" rating and a $110.00 price target on the stock. Morgan Stanley raised their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Scotiabank reduced their price objective on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a research note on Thursday, March 6th. Finally, 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 research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ONEOK currently has an average rating of "Moderate Buy" and a consensus target price of $106.42.

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.