Disciplined Investors L.L.C. Takes Position in ONEOK, Inc. (NYSE:OKE)

Disciplined Investors L.L.C. acquired a new position in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 2,818 shares of the utilities provider’s stock, valued at approximately $293,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OKE. Kieckhefer Group LLC acquired a new stake in shares of ONEOK in the 4th quarter worth approximately $30,000. Canton Hathaway LLC bought a new stake in ONEOK during the fourth quarter worth approximately $40,000. J.Safra Asset Management Corp acquired a new stake in ONEOK in the fourth quarter worth approximately $48,000. VSM Wealth Advisory LLC bought a new position in ONEOK during the 4th quarter valued at $50,000. Finally, OFI Invest Asset Management acquired a new position in shares of ONEOK during the 4th quarter valued at $51,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Scotiabank reduced their price objective on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Barclays lowered their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company cut their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Finally, Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Price Performance

Shares of NYSE:OKE opened at $100.51 on Thursday. The company’s fifty day moving average is $97.80 and its two-hundred day moving average is $100.36. The company has a market cap of $62.75 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07. 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 (NYSE:OKE) last posted its quarterly 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. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. Equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.10%. ONEOK’s payout ratio is presently 79.69%.

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.