Crescent Grove Advisors LLC Makes New $263,000 Investment in ONEOK, Inc. (NYSE:OKE)

Crescent Grove Advisors LLC acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,621 shares of the utilities provider’s stock, valued at approximately $263,000.

Other institutional investors have also bought and sold shares of the company. Matrix Trust Co purchased a new stake in shares of ONEOK during the third quarter worth about $29,000. Kieckhefer Group LLC purchased a new stake in ONEOK during the 4th quarter valued at approximately $30,000. Access Investment Management LLC bought a new stake in shares of ONEOK during the third quarter valued at approximately $37,000. Values First Advisors Inc. bought a new stake in shares of ONEOK during the third quarter valued at approximately $44,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of ONEOK by 37.4% in the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after buying an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $104.42 on Monday. 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, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07. The company has a market capitalization of $61.00 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 4.03 and a beta of 1.70. The firm’s 50-day moving average is $106.00 and its 200 day moving average is $96.59.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS 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 business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the company posted $0.99 EPS. Research analysts predict that ONEOK, Inc. will post 5.1 EPS for the current 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 represents a $4.12 annualized dividend and a dividend yield of 3.95%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is 86.19%.

Wall Street Analysts Forecast Growth

OKE has been the subject of several research analyst reports. Royal Bank of Canada raised their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. 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. UBS Group raised their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Scotiabank began coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $102.92.

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.