17,238 Shares in ONEOK, Inc. (NYSE:OKE) Purchased by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 17,238 shares of the utilities provider’s stock, valued at approximately $1,731,000.

A number of other hedge funds have also recently bought and sold shares of OKE. QRG Capital Management Inc. grew its holdings in ONEOK by 6.5% during the third quarter. QRG Capital Management Inc. now owns 5,936 shares of the utilities provider’s stock worth $541,000 after acquiring an additional 364 shares during the period. Graypoint LLC grew its holdings in ONEOK by 15.3% during the third quarter. Graypoint LLC now owns 6,433 shares of the utilities provider’s stock worth $586,000 after acquiring an additional 853 shares during the period. Principal Financial Group Inc. boosted its position in shares of ONEOK by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 710,314 shares of the utilities provider’s stock valued at $64,731,000 after purchasing an additional 24,193 shares during the period. Equitable Trust Co. acquired a new position in shares of ONEOK in the 3rd quarter valued at $458,000. Finally, SpiderRock Advisors LLC boosted its position in shares of ONEOK by 1.8% in the 3rd quarter. SpiderRock Advisors LLC now owns 8,093 shares of the utilities provider’s stock valued at $738,000 after purchasing an additional 147 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Down 0.2 %

Shares of ONEOK stock opened at $89.59 on Friday. The firm has a market cap of $55.93 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 3.77 and a beta of 1.70. 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 52-week low of $76.23 and a 52-week high of $118.07. The stock has a 50-day simple moving average of $100.00 and a 200-day simple moving average of $99.37.

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. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, equities research 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 paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.60%. 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 (DPR) is presently 79.69%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. UBS Group increased their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Scotiabank decreased their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday. Barclays decreased their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Monday, February 10th. Finally, US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.31.

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.