Sonora Investment Management Group LLC Acquires 2,633 Shares of ONEOK, Inc. (NYSE:OKE)

Sonora Investment Management Group LLC increased its holdings in ONEOK, Inc. (NYSE:OKE) by 25.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,063 shares of the utilities provider’s stock after purchasing an additional 2,633 shares during the period. Sonora Investment Management Group LLC’s holdings in ONEOK were worth $1,312,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Astoria Portfolio Advisors LLC. raised its stake in shares of ONEOK by 4.1% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock valued at $260,000 after acquiring an additional 96 shares in the last quarter. Mutual Advisors LLC raised its position 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 valued at $965,000 after purchasing an additional 103 shares during the period. Morton Capital Management LLC CA lifted 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 buying an additional 104 shares during the last quarter. HM Payson & Co. boosted its holdings in shares of ONEOK by 6.3% during the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after buying an additional 105 shares during the period. Finally, Bill Few Associates Inc. grew its stake in ONEOK by 3.9% in the 4th quarter. Bill Few Associates Inc. now owns 2,773 shares of the utilities provider’s stock valued at $278,000 after buying an additional 105 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada raised their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Barclays boosted their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Scotiabank started coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. Finally, UBS Group increased their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.

ONEOK Stock Down 0.5 %

Shares of OKE opened at $99.91 on Friday. The business’s fifty day moving average price is $105.25 and its two-hundred day moving average price is $96.95. The firm has a market capitalization of $58.37 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 3.81 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $67.05 and a 52 week high of $118.07. 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 (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the prior year, the firm posted $0.99 earnings per share. On average, analysts predict that ONEOK, Inc. will post 5.09 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a $1.03 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.12%. ONEOK’s payout ratio is 86.19%.

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.