Stonegate Investment Group LLC Purchases Shares of 2,200 ONEOK, Inc. (NYSE:OKE)

Stonegate Investment Group LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,200 shares of the utilities provider’s stock, valued at approximately $221,000.

Other hedge funds have also recently modified their holdings of the company. National Pension Service lifted its holdings in shares of ONEOK by 1.6% in the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after buying an additional 12,349 shares in the last quarter. Leavell Investment Management Inc. lifted its holdings in shares of ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after buying an additional 5,175 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its holdings in shares of 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 worth $4,972,000 after buying an additional 5,451 shares in the last quarter. FNY Investment Advisers LLC lifted its holdings in shares of ONEOK by 14,279.1% in the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after buying an additional 21,847 shares in the last quarter. Finally, Sageworth Trust Co purchased a new position in shares of ONEOK in the third quarter worth $568,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 0.2 %

OKE stock opened at $100.38 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a twelve month low of $67.05 and a twelve month high of $118.07. The stock has a market capitalization of $58.64 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70. The firm’s fifty day simple moving average is $105.51 and its two-hundred day simple moving average is $96.93.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the previous year, the company posted $0.99 earnings per share. As a group, analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a $1.03 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.10%. ONEOK’s dividend payout ratio is presently 82.85%.

Analysts Set New Price Targets

Several equities analysts have recently commented on OKE shares. Scotiabank initiated coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price on the stock. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research 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 on the stock. in a research report on Wednesday, December 18th. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Finally, UBS Group boosted their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $102.92.

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.