Mosley Wealth Management Purchases Shares of 2,865 ONEOK, Inc. (NYSE:OKE)

Mosley Wealth Management acquired a new position in ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,865 shares of the utilities provider’s stock, valued at approximately $234,000.

Other hedge funds have also made changes to their positions in the company. Tortoise Capital Advisors L.L.C. increased its holdings in ONEOK by 3.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock valued at $554,158,000 after purchasing an additional 232,043 shares in the last quarter. Northern Trust Corp raised its holdings in shares of ONEOK by 1.5% during the 4th quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock valued at $404,055,000 after buying an additional 85,736 shares during the period. Norges Bank purchased a new stake in shares of ONEOK during the 4th quarter valued at about $297,948,000. Kayne Anderson Capital Advisors LP lifted its position in ONEOK by 28.7% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after acquiring an additional 825,464 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in ONEOK by 12.3% in the 1st quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after acquiring an additional 378,509 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of analyst reports. Scotiabank lifted their price objective on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. Citigroup lifted their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company increased their price target on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Finally, Morgan Stanley raised their price objective on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $89.92.

ONEOK Stock Performance

Shares of NYSE OKE traded down $0.75 during midday trading on Friday, hitting $91.06. The company’s stock had a trading volume of 3,207,326 shares, compared to its average volume of 2,767,778. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $93.00. The firm’s fifty day moving average price is $85.25 and its 200-day moving average price is $81.13. The firm has a market cap of $53.15 billion, a P/E ratio of 21.18, a P/E/G ratio of 3.66 and a beta of 1.67.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period in the previous year, the firm posted $1.04 earnings per share. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.05 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date was Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

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.