1,998 Shares in ONEOK, Inc. (NYSE:OKE) Acquired by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. acquired a new position in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,998 shares of the utilities provider’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Kieckhefer Group LLC acquired a new position in ONEOK in the fourth quarter valued at approximately $30,000. Canton Hathaway LLC acquired a new position in ONEOK in the fourth quarter valued at approximately $40,000. Access Investment Management LLC acquired a new position in ONEOK in the third quarter valued at approximately $37,000. Versant Capital Management Inc lifted its stake in ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after buying an additional 260 shares during the period. Finally, Sierra Ocean LLC acquired a new position in ONEOK in the fourth quarter valued at approximately $58,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OKE has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Citigroup initiated coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price target on the stock. Barclays initiated coverage on ONEOK in a report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price objective for the company. Finally, Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.62.

ONEOK Trading Down 2.4 %

Shares of ONEOK stock opened at $89.69 on Friday. The stock has a fifty day simple moving average of $100.22 and a 200 day simple moving average of $99.28. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07. The company has a market capitalization of $56.00 billion, a P/E ratio of 18.76, a price-to-earnings-growth 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 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 business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.59%. 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 dividend payout ratio is 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.