Arvest Investments Inc. Decreases Position in ONEOK, Inc. (NYSE:OKE)

Arvest Investments Inc. decreased its stake in ONEOK, Inc. (NYSE:OKE) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,058 shares of the utilities provider’s stock after selling 1,452 shares during the period. Arvest Investments Inc.’s holdings in ONEOK were worth $1,913,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of OKE. Kieckhefer Group LLC purchased a new position in ONEOK in the fourth quarter valued at about $30,000. Canton Hathaway LLC purchased a new position in ONEOK in the fourth quarter valued at about $40,000. J.Safra Asset Management Corp purchased a new position in ONEOK in the fourth quarter valued at about $48,000. VSM Wealth Advisory LLC purchased a new position in ONEOK in the fourth quarter valued at about $50,000. Finally, OFI Invest Asset Management purchased a new position in ONEOK in the fourth quarter valued at about $51,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 2.2 %

Shares of ONEOK stock opened at $100.12 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The business’s 50 day simple moving average is $99.03 and its 200-day simple moving average is $99.75. The stock has a market capitalization of $62.51 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $76.23 and a twelve 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 for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Equities research analysts forecast 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. Investors 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. This represents a $4.12 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Barclays reduced their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Scotiabank reduced their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Monday, February 10th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Citigroup initiated coverage on ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $103.31.

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.