ONEOK, Inc. (NYSE:OKE) Shares Purchased by South Street Advisors LLC

South Street Advisors LLC boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 460.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 71,849 shares of the utilities provider’s stock after acquiring an additional 59,029 shares during the period. South Street Advisors LLC’s holdings in ONEOK were worth $7,214,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC grew its stake in ONEOK by 14,279.1% in the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock valued at $2,208,000 after acquiring an additional 21,847 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in ONEOK by 57.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock valued at $1,456,000 after purchasing an additional 5,321 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in ONEOK by 222.3% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 16,181 shares of the utilities provider’s stock valued at $1,475,000 after purchasing an additional 11,160 shares in the last quarter. Simon Quick Advisors LLC purchased a new position in ONEOK in the 4th quarter valued at about $251,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in ONEOK by 1.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 275,137 shares of the utilities provider’s stock valued at $25,070,000 after purchasing an additional 5,067 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OKE has been the topic of a number of recent research reports. Scotiabank reduced their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company cut their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a report on Monday, February 10th. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Barclays cut their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Stock Up 2.1 %

OKE stock opened at $98.41 on Tuesday. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $61.44 billion, a P/E ratio of 20.59, a PEG ratio of 3.77 and a beta of 1.70. The firm has a 50 day simple moving average of $99.15 and a 200-day simple moving average of $99.70.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. On average, equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 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.