Wealth Enhancement Advisory Services LLC Increases Holdings in ONEOK, Inc. (NYSE:OKE)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 223,459 shares of the utilities provider's stock after purchasing an additional 4,915 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in ONEOK were worth $22,435,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of OKE. National Pension Service grew its stake in ONEOK by 1.6% in the third quarter. National Pension Service now owns 763,833 shares of the utilities provider's stock worth $69,608,000 after purchasing an additional 12,349 shares during the period. Leavell Investment Management Inc. grew its position in shares of ONEOK by 3.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider's stock worth $12,871,000 after buying an additional 5,175 shares during the period. Caxton Associates LP bought a new position in shares of ONEOK in the 2nd quarter worth about $1,225,000. Point72 Europe London LLP purchased a new position in ONEOK during the 2nd quarter valued at about $15,008,000. Finally, Nations Financial Group Inc. IA ADV boosted its stake in ONEOK by 11.1% during the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider's stock worth $4,972,000 after acquiring an additional 5,451 shares in the last quarter. Institutional investors own 69.13% of the company's stock.

Analysts Set New Price Targets

OKE has been the subject of a number of analyst reports. Mizuho raised shares of ONEOK to a "hold" rating in a research note on Thursday, November 7th. Bank of America initiated coverage on ONEOK in a research report on Thursday, October 17th. They set a "buy" rating and a $105.00 price objective for the company. US Capital Advisors raised ONEOK from a "hold" rating to a "moderate buy" rating in a report on Tuesday, November 26th. Morgan Stanley upgraded ONEOK from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $103.00 to $111.00 in a report on Monday, September 16th. Finally, Wells Fargo & Company cut shares of ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 price target on the stock. in a research note on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $101.54.

ONEOK Stock Performance

Shares of NYSE OKE traded down $1.01 during midday trading on Friday, hitting $101.84. 3,023,550 shares of the stock traded hands, compared to its average volume of 2,642,142. 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 one year low of $67.05 and a one year high of $118.07. The firm has a market capitalization of $59.49 billion, a P/E ratio of 21.31, a PEG ratio of 5.24 and a beta of 1.70. The firm has a 50-day moving average of $105.63 and a two-hundred day moving average of $94.95.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to analysts' expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the prior year, the company posted $0.99 earnings per share. On average, equities analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.89%. ONEOK's dividend payout ratio (DPR) is presently 82.85%.

ONEOK Company 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.