Smartleaf Asset Management LLC Acquires 4,170 Shares of ONEOK, Inc. (NYSE:OKE)

Smartleaf Asset Management LLC boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 48.4% in the 4th quarter, HoldingsChannel reports. The firm owned 12,780 shares of the utilities provider’s stock after purchasing an additional 4,170 shares during the quarter. Smartleaf Asset Management LLC’s holdings in ONEOK were worth $1,288,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hickory Point Bank & Trust bought a new position in ONEOK in the 4th quarter worth approximately $219,000. Purkiss Capital Advisors LLC bought a new position in ONEOK in the 4th quarter worth approximately $594,000. Metis Global Partners LLC boosted its stake in ONEOK by 3.4% in the 4th quarter. Metis Global Partners LLC now owns 79,453 shares of the utilities provider’s stock worth $7,977,000 after purchasing an additional 2,580 shares during the period. Williamson Legacy Group LLC bought a new position in ONEOK in the 4th quarter worth approximately $283,000. Finally, Fisher Asset Management LLC boosted its stake in ONEOK by 103.6% in the 4th quarter. Fisher Asset Management LLC now owns 13,926 shares of the utilities provider’s stock worth $1,398,000 after purchasing an additional 7,087 shares during the period. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

NYSE:OKE opened at $100.29 on Monday. The stock’s fifty day moving average is $100.91 and its 200 day moving average is $99.29. ONEOK, Inc. has a fifty-two week low of $74.39 and a fifty-two week high of $118.07. The firm has a market capitalization of $62.62 billion, a PE ratio of 20.98, a PEG ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

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, beating the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. This is a positive change 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 dividend on an annualized basis and a yield of 4.11%. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on OKE shares. Scotiabank started coverage on ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. Citigroup started coverage on ONEOK in a research report on Friday. They set a “buy” rating and a $110.00 target price for the company. Wells Fargo & Company lowered their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, UBS Group increased their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.15.

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.