Ashton Thomas Securities LLC Purchases 894 Shares of ONEOK, Inc. (NYSE:OKE)

Ashton Thomas Securities LLC lifted its position in ONEOK, Inc. (NYSE:OKE) by 70.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,156 shares of the utilities provider’s stock after acquiring an additional 894 shares during the quarter. Ashton Thomas Securities LLC’s holdings in ONEOK were worth $217,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OKE shares. Scotiabank cut their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Monday, February 10th. Citigroup began coverage on shares of ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 price target for the company. Morgan Stanley increased their price objective on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Stock Up 0.1 %

Shares of ONEOK stock opened at $102.42 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market cap of $63.94 billion, a P/E ratio of 21.43, a PEG ratio of 3.77 and a beta of 1.70. The firm’s 50 day moving average price is $98.84 and its 200-day moving average price is $100.07. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly 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. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 4.02%. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 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.