Vision Financial Markets LLC Purchases New Position in ONEOK, Inc. (NYSE:OKE)

Vision Financial Markets LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,499 shares of the utilities provider’s stock, valued at approximately $251,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new stake in ONEOK in the 4th quarter worth about $30,000. Access Investment Management LLC purchased a new stake in ONEOK in the 3rd quarter worth about $37,000. Canton Hathaway LLC purchased a new stake in ONEOK in the 4th quarter worth about $40,000. J.Safra Asset Management Corp purchased a new stake in ONEOK in the 4th quarter worth about $48,000. Finally, Versant Capital Management Inc raised its position in ONEOK by 98.1% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 260 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on OKE shares. Citigroup started coverage on shares of ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective on the stock. Scotiabank started coverage on shares of ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price 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. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Finally, Wells Fargo & Company reduced their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $104.15.

ONEOK Stock Performance

Shares of OKE stock opened at $91.95 on Thursday. The firm has a market cap of $57.40 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 3.77 and a beta of 1.70. The company’s 50 day moving average is $100.45 and its 200 day moving average is $99.34. 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 $76.23 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 4.48%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. 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.