Stevens Capital Management LP Buys New Position in ONEOK, Inc. (NYSE:OKE)

Stevens Capital Management LP bought a new stake in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 6,583 shares of the utilities provider’s stock, valued at approximately $661,000.

Other institutional investors have also recently made changes to their positions in the company. Kieckhefer Group LLC acquired a new position in shares of ONEOK during the 4th quarter worth approximately $30,000. Canton Hathaway LLC acquired a new position in shares of ONEOK during the 4th quarter worth approximately $40,000. J.Safra Asset Management Corp acquired a new position in shares of ONEOK during the 4th quarter worth approximately $48,000. VSM Wealth Advisory LLC acquired a new position in shares of ONEOK during the 4th quarter worth approximately $50,000. Finally, OFI Invest Asset Management acquired a new position in shares of ONEOK during the 4th quarter worth approximately $51,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on OKE. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company lowered their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Barclays reduced their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Citigroup assumed coverage on ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company. Finally, Scotiabank reduced their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.31.

ONEOK Stock Performance

OKE opened at $99.45 on Monday. The business has a fifty day simple moving average of $98.94 and a 200 day simple moving average of $99.92. The company has a market capitalization of $62.09 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. 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 (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.14%. 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 is presently 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.