Spring Capital Management LLC Buys Shares of 5,000 ONEOK, Inc. (NYSE:OKE)

Spring Capital Management LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,000 shares of the utilities provider's stock, valued at approximately $502,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Selective Wealth Management Inc. raised its position in shares of ONEOK by 4.4% during the fourth quarter. Selective Wealth Management Inc. now owns 14,242 shares of the utilities provider's stock valued at $1,510,000 after buying an additional 606 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its stake in ONEOK by 10.7% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 18,329 shares of the utilities provider's stock worth $1,840,000 after purchasing an additional 1,777 shares in the last quarter. Empirical Asset Management LLC bought a new position in shares of ONEOK during the 4th quarter valued at about $1,997,000. Morton Capital Management LLC CA increased its holdings 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 purchasing an additional 104 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its position in shares of ONEOK by 4.7% in the fourth quarter. Ritholtz Wealth Management now owns 2,363 shares of the utilities provider's stock worth $237,000 after buying an additional 106 shares in the last quarter. Institutional investors own 69.13% of the company's stock.

ONEOK Trading Up 0.4 %

Shares of NYSE:OKE traded up $0.42 on Friday, hitting $109.08. 3,093,017 shares of the company's stock were exchanged, compared to its average volume of 2,475,531. The business's 50 day simple moving average is $106.17 and its two-hundred day simple moving average is $95.74. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07. The stock has a market capitalization of $63.72 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 4.35 and a beta of 1.70.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $5.81 billion. During the same period last year, the firm earned $0.99 earnings per share. Analysts anticipate that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OKE. Mizuho raised ONEOK to a "hold" rating in a report on Thursday, November 7th. US Capital Advisors upgraded shares of ONEOK from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, November 26th. Wells Fargo & Company downgraded shares of ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 target price on the stock. in a report on Wednesday, December 18th. Royal Bank of Canada increased their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a report on Wednesday, October 16th. Finally, UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, ONEOK presently has an average rating of "Moderate Buy" and an average price target of $101.54.

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.