4,257 Shares in ONEOK, Inc. (NYSE:OKE) Purchased by GWN Securities Inc.

GWN Securities Inc. purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,257 shares of the utilities provider’s stock, valued at approximately $439,000.

Several other hedge funds have also recently modified their holdings of the stock. Collaborative Wealth Managment Inc. acquired a new position in shares of ONEOK during the 4th quarter worth about $321,000. Ninepoint Partners LP raised its holdings in ONEOK by 9.3% in the 4th quarter. Ninepoint Partners LP now owns 12,812 shares of the utilities provider’s stock valued at $1,286,000 after acquiring an additional 1,095 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in ONEOK by 5.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,497 shares of the utilities provider’s stock valued at $753,000 after acquiring an additional 374 shares during the last quarter. Hutchinson Capital Management CA acquired a new stake in ONEOK in the 4th quarter valued at about $208,000. Finally, Natixis Advisors LLC raised its holdings in ONEOK by 7.3% in the 4th quarter. Natixis Advisors LLC now owns 479,312 shares of the utilities provider’s stock valued at $48,123,000 after acquiring an additional 32,651 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on OKE. Citigroup began coverage on shares of ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Barclays dropped their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Monday, February 10th. Finally, Wells Fargo & Company dropped their price target 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. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.31.

ONEOK Price Performance

Shares of OKE opened at $96.52 on Monday. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07. The firm’s fifty day simple moving average is $99.21 and its 200-day simple moving average is $99.65. The firm has a market capitalization of $60.26 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 3.77 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $6.18 billion. Equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.27%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 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.