Shelton Capital Management Boosts Holdings in ONEOK, Inc. (NYSE:OKE)

Shelton Capital Management lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 13,072 shares of the utilities provider’s stock after buying an additional 392 shares during the quarter. Shelton Capital Management’s holdings in ONEOK were worth $1,312,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OKE. Astoria Portfolio Advisors LLC. raised its stake in ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock valued at $260,000 after buying an additional 96 shares during the last quarter. McAdam LLC increased its holdings in shares of ONEOK by 3.8% during the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock valued at $262,000 after acquiring an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC boosted its stake in ONEOK by 0.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after purchasing an additional 100 shares in the last quarter. Mutual Advisors LLC grew its position in ONEOK by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after purchasing an additional 103 shares during the last quarter. Finally, Morton Capital Management LLC CA grew its position in ONEOK by 1.4% during the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock valued at $734,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on OKE shares. Scotiabank dropped their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Morgan Stanley upped their price objective on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Citigroup started coverage on ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 target price for the company. Wells Fargo & Company lowered their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Finally, Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Trading Down 2.9 %

Shares of OKE stock opened at $78.57 on Wednesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a fifty day simple moving average of $95.81 and a two-hundred day simple moving average of $99.95. The firm has a market capitalization of $49.05 billion, a PE ratio of 16.44, a PEG ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. On average, analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 5.24%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is 79.69%.

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.