Morton Capital Management LLC CA Raises Stock Position in ONEOK, Inc. (NYSE:OKE)

Morton Capital Management LLC CA boosted its position in ONEOK, Inc. (NYSE:OKE) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,313 shares of the utilities provider’s stock after purchasing an additional 104 shares during the quarter. Morton Capital Management LLC CA’s holdings in ONEOK were worth $734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in OKE. Kieckhefer Group LLC bought a new stake in ONEOK during the fourth quarter valued at $30,000. Matrix Trust Co purchased a new stake in shares of ONEOK in the 3rd quarter valued at about $29,000. Quest Partners LLC purchased a new position in shares of ONEOK during the second quarter worth about $28,000. Access Investment Management LLC bought a new position in shares of ONEOK in the third quarter worth approximately $37,000. Finally, Values First Advisors Inc. purchased a new stake in ONEOK in the third quarter valued at approximately $44,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OKE has been the subject of several research analyst reports. Bank of America started coverage on ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Royal Bank of Canada boosted their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Scotiabank began coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective on the stock. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research report on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.54.

ONEOK Stock Up 1.6 %

Shares of ONEOK stock opened at $108.59 on Friday. The company’s fifty day simple moving average is $106.04 and its two-hundred day simple moving average is $95.36. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a market cap of $63.43 billion, a P/E ratio of 22.72, a PEG ratio of 4.35 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate 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. Research analysts anticipate that ONEOK, Inc. will post 5.1 EPS for the current year.

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.