Martel Wealth Advisors Inc Makes New $510,000 Investment in ONEOK, Inc. (NYSE:OKE)

Martel Wealth Advisors Inc purchased a new stake in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, Holdings Channel.com reports. The fund purchased 5,078 shares of the utilities provider’s stock, valued at approximately $510,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Regent Peak Wealth Advisors LLC purchased a new position in ONEOK in the fourth quarter valued at about $207,000. LaFleur & Godfrey LLC bought a new position in ONEOK during the 4th quarter valued at $931,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of ONEOK by 12.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 4,297 shares of the utilities provider’s stock worth $431,000 after purchasing an additional 467 shares in the last quarter. Diversify Advisory Services LLC boosted its position in shares of ONEOK by 37.0% in the fourth quarter. Diversify Advisory Services LLC now owns 5,548 shares of the utilities provider’s stock worth $565,000 after buying an additional 1,497 shares during the period. Finally, Clarius Group LLC grew its stake in shares of ONEOK by 7.5% in the 4th quarter. Clarius Group LLC now owns 3,955 shares of the utilities provider’s stock valued at $397,000 after buying an additional 276 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

ONEOK stock opened at $109.08 on Tuesday. The company’s 50-day moving average price is $106.17 and its 200-day moving average price is $95.83. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a twelve month low of $67.05 and a twelve month high of $118.07. The company has a market cap of $63.72 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 4.66 and a beta of 1.70.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter last year, the firm earned $0.99 EPS. On average, equities research analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on OKE. Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada raised their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a report on Wednesday, December 18th. Finally, Scotiabank started coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.92.

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.