ONEOK, Inc. (NYSE:OKE) Shares Acquired by Donoghue Forlines LLC

Donoghue Forlines LLC lifted its stake in ONEOK, Inc. (NYSE:OKE) by 250.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,953 shares of the utilities provider’s stock after acquiring an additional 10,684 shares during the quarter. Donoghue Forlines LLC’s holdings in ONEOK were worth $1,501,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in OKE. Matrix Trust Co purchased a new stake in ONEOK in the third quarter valued at approximately $29,000. Kieckhefer Group LLC purchased a new stake in shares of ONEOK in the 4th quarter valued at $30,000. Access Investment Management LLC acquired a new position in ONEOK during the 3rd quarter worth about $37,000. Values First Advisors Inc. acquired a new position in ONEOK during the 3rd quarter worth about $44,000. Finally, Fortitude Family Office LLC boosted its holdings in ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 135 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Barclays raised their price target on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Scotiabank began coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective on the stock. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.92.

ONEOK Price Performance

OKE stock opened at $106.26 on Thursday. The stock has a market cap of $62.07 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 4.16 and a beta of 1.70. 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 fifty-two week low of $67.05 and a fifty-two week high of $118.07. The business has a 50 day moving average price of $106.17 and a 200 day moving average price of $96.28.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the previous year, the firm posted $0.99 earnings per share. Equities research analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.88%. ONEOK’s dividend payout ratio (DPR) is 82.85%.

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.