ONEOK, Inc. (NYSE:OKE) is Cadent Capital Advisors LLC’s 9th Largest Position

Cadent Capital Advisors LLC boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 86,654 shares of the utilities provider’s stock after acquiring an additional 1,263 shares during the period. ONEOK comprises approximately 3.0% of Cadent Capital Advisors LLC’s holdings, making the stock its 9th biggest holding. Cadent Capital Advisors LLC’s holdings in ONEOK were worth $8,700,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after acquiring an additional 3,197,121 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in ONEOK by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after purchasing an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in ONEOK during the 3rd quarter worth $47,957,000. Yaupon Capital Management LP purchased a new position in ONEOK in the third quarter valued at about $45,194,000. Finally, National Bank of Canada FI grew its position in shares of ONEOK by 199.9% during the third quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock worth $63,605,000 after buying an additional 465,243 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 2.1 %

Shares of ONEOK stock traded up $2.10 during trading on Monday, hitting $103.85. 1,678,975 shares of the stock traded hands, compared to its average volume of 2,493,853. The stock has a market cap of $60.67 billion, a P/E ratio of 21.73, a PEG ratio of 5.24 and a beta of 1.70. The company has a fifty day moving average price of $105.63 and a two-hundred day moving average price of $94.95. 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, Inc. has a twelve month low of $67.05 and a twelve month high of $118.07.

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

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.81%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Wall Street Analyst Weigh In

OKE has been the subject of several research analyst reports. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Scotiabank assumed coverage on shares of ONEOK in a research note on Friday. They issued a “sector outperform” rating and a $109.00 price target on the stock. Bank of America started coverage on ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 target price on the stock. Finally, UBS Group increased their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $101.54.

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.