Reaves W H & Co. Inc. Purchases 269,317 Shares of ONEOK, Inc. (NYSE:OKE)

Reaves W H & Co. Inc. grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 1,064.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 294,624 shares of the utilities provider’s stock after buying an additional 269,317 shares during the period. Reaves W H & Co. Inc. owned approximately 0.05% of ONEOK worth $29,580,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in OKE. Charles Schwab Investment Management Inc. increased its position 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 worth $1,593,023,000 after buying an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of ONEOK in the third quarter worth $47,957,000. National Pension Service increased its position in shares of ONEOK by 65.3% in the fourth quarter. National Pension Service now owns 1,262,741 shares of the utilities provider’s stock worth $126,779,000 after purchasing an additional 498,908 shares during the period. Yaupon Capital Management LP bought a new position in shares of ONEOK in the third quarter worth $45,194,000. Finally, Strategic Financial Concepts LLC increased its position in shares of ONEOK by 10,153.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock worth $49,662,000 after purchasing an additional 489,821 shares during the period. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company decreased their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Scotiabank started coverage on ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target on the stock. Finally, UBS Group raised their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Seven 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.15.

ONEOK Stock Performance

Shares of OKE stock opened at $96.57 on Tuesday. The business’s 50-day moving average price is $100.83 and its 200-day moving average price is $99.35. ONEOK, Inc. has a 12 month low of $75.69 and a 12 month high of $118.07. The firm has a market capitalization of $60.29 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 3.77 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating 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 firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. Equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.27%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

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.