Ritholtz Wealth Management Grows Position in ONEOK, Inc. (NYSE:OKE)

Ritholtz Wealth Management raised its position in ONEOK, Inc. (NYSE:OKE) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,363 shares of the utilities provider’s stock after acquiring an additional 106 shares during the quarter. Ritholtz Wealth Management’s holdings in ONEOK were worth $237,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. National Pension Service raised its stake in ONEOK by 1.6% in the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after buying an additional 12,349 shares in the last quarter. Leavell Investment Management Inc. boosted its holdings in shares of ONEOK by 3.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after buying an additional 5,175 shares in the last quarter. Caxton Associates LP acquired a new stake in ONEOK during the 2nd quarter worth $1,225,000. Point72 Europe London LLP purchased a new stake in ONEOK in the second quarter valued at $15,008,000. Finally, Nations Financial Group Inc. IA ADV boosted its stake in ONEOK by 11.1% in the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock valued at $4,972,000 after acquiring an additional 5,451 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the subject of several research reports. Barclays boosted their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Scotiabank started coverage on ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research note on Wednesday, December 18th. Finally, Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $102.92.

ONEOK Trading Down 3.2 %

ONEOK stock opened at $106.28 on Thursday. The stock has a 50-day moving average price of $106.21 and a 200 day moving average price of $96.21. ONEOK, Inc. has a 52 week low of $67.05 and a 52 week high of $118.07. The stock has a market cap of $62.09 billion, a PE ratio of 22.23, a P/E/G ratio of 4.66 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 posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the firm earned $0.99 EPS. Equities research analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.88%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 82.85%.

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.