Disciplined Investors L.L.C. Invests $293,000 in ONEOK, Inc. (NYSE:OKE)

Disciplined Investors L.L.C. purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,818 shares of the utilities provider’s stock, valued at approximately $293,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of ONEOK by 11.7% in the third quarter. FMR LLC now owns 1,171,917 shares of the utilities provider’s stock worth $106,797,000 after acquiring an additional 122,362 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in ONEOK by 4.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,721 shares of the utilities provider’s stock worth $430,000 after purchasing an additional 200 shares during the last quarter. HighTower Advisors LLC raised its position in shares of ONEOK by 3.8% in the 3rd quarter. HighTower Advisors LLC now owns 406,984 shares of the utilities provider’s stock valued at $37,080,000 after purchasing an additional 14,910 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of ONEOK by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after buying an additional 11,189 shares during the last quarter. Finally, Investment Management Corp of Ontario grew its position in shares of ONEOK by 49.4% during the third quarter. Investment Management Corp of Ontario now owns 19,359 shares of the utilities provider’s stock worth $1,764,000 after buying an additional 6,400 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Scotiabank cut their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Wolfe Research raised 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. Citigroup assumed coverage on ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Finally, US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Seven research 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Trading Up 1.0 %

NYSE:OKE opened at $100.51 on Thursday. The firm has a market capitalization of $62.75 billion, a P/E ratio of 21.03, a P/E/G ratio of 3.77 and a beta of 1.70. The business has a 50 day simple moving average of $97.80 and a 200 day simple moving average of $100.36. 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, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last announced 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. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. Equities research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current 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 given a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.10%. ONEOK’s dividend payout ratio is 79.69%.

ONEOK 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.