Wambolt & Associates LLC lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,713 shares of the utilities provider’s stock after purchasing an additional 619 shares during the quarter. ONEOK accounts for approximately 1.7% of Wambolt & Associates LLC’s investment portfolio, making the stock its 10th biggest holding. Wambolt & Associates LLC’s holdings in ONEOK were worth $2,173,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. Tarbox Family Office Inc. raised its position in ONEOK by 113.1% during the fourth quarter. Tarbox Family Office Inc. now owns 326 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 173 shares in the last quarter. Duncker Streett & Co. Inc. bought a new stake in ONEOK during the fourth quarter worth $26,000. Northern Oak Wealth Management Inc. bought a new stake in ONEOK during the fourth quarter worth $26,000. Princeton Global Asset Management LLC bought a new stake in ONEOK during the fourth quarter worth $28,000. Finally, M&R Capital Management Inc. bought a new stake in ONEOK during the fourth quarter worth $30,000. 73.43% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on OKE shares. Wells Fargo & Co upped their price target on shares of ONEOK from $81.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday. ValuEngine raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Stifel Nicolaus raised shares of ONEOK from a “hold” rating to a “buy” rating and upped their price target for the stock from $71.00 to $81.00 in a research report on Wednesday. Tudor Pickering started coverage on shares of ONEOK in a research report on Friday, November 8th. They set a “buy” rating and a $74.00 price target on the stock. Finally, Morgan Stanley started coverage on shares of ONEOK in a research report on Monday, January 6th. They set an “underweight” rating and a $63.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $76.84.
Shares of OKE traded down $5.74 during trading hours on Thursday, hitting $67.55. The company had a trading volume of 7,201,664 shares, compared to its average volume of 2,114,354. The firm has a market cap of $30.41 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 1.76 and a beta of 1.11. The business has a fifty day moving average of $75.90 and a 200-day moving average of $72.87. ONEOK, Inc. has a 12 month low of $63.13 and a 12 month high of $78.48. The company has a quick ratio of 0.95, a current ratio of 0.73 and a debt-to-equity ratio of 2.01.
ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $0.77 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.72 billion. ONEOK had a net margin of 12.58% and a return on equity of 20.27%. The company’s revenue was down 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 earnings per share. On average, equities analysts expect that ONEOK, Inc. will post 3.78 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, January 27th were given a $0.935 dividend. The ex-dividend date was Friday, January 24th. This is a positive change from ONEOK’s previous quarterly dividend of $0.92. This represents a $3.74 annualized dividend and a dividend yield of 5.54%. ONEOK’s dividend payout ratio is presently 121.82%.
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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