Tower Research Capital LLC TRC Purchases 36,972 Shares of ONEOK, Inc. (NYSE:OKE)

Tower Research Capital LLC TRC lifted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 240.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,329 shares of the utilities provider's stock after buying an additional 36,972 shares during the period. Tower Research Capital LLC TRC's holdings in ONEOK were worth $5,254,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kieckhefer Group LLC bought a new position in shares of ONEOK during the 4th quarter valued at approximately $30,000. Canton Hathaway LLC bought a new position in ONEOK during the fourth quarter valued at $40,000. J.Safra Asset Management Corp purchased a new stake in ONEOK in the fourth quarter worth $48,000. VSM Wealth Advisory LLC bought a new stake in shares of ONEOK in the fourth quarter valued at $50,000. Finally, OFI Invest Asset Management purchased a new position in shares of ONEOK during the 4th quarter valued at $51,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. 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. Wells Fargo & Company cut their price target on ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Citigroup began coverage on ONEOK in a research note on Friday, February 28th. They set a "buy" rating and a $110.00 price objective on the stock. Barclays reduced their target price on ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Finally, Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $106.42.

ONEOK Trading Up 0.1 %

OKE traded up $0.10 during trading on Friday, reaching $86.38. The company had a trading volume of 1,830,712 shares, compared to its average volume of 3,172,308. 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 52 week low of $75.48 and a 52 week high of $118.07. The stock has a market cap of $53.95 billion, a P/E ratio of 18.07, a PEG ratio of 3.77 and a beta of 1.20. The business has a 50 day simple moving average of $92.28 and a 200-day simple moving average of $99.04.

ONEOK (NYSE:OKE - Get Free Report) last issued its 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. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, equities analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date is Monday, May 5th. ONEOK's dividend payout ratio (DPR) is 79.69%.

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.