Ausdal Financial Partners Inc. Boosts Stake in ONEOK, Inc. (NYSE:OKE)

Ausdal Financial Partners Inc. increased its stake in ONEOK, Inc. (NYSE:OKE) by 24.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,981 shares of the utilities provider’s stock after acquiring an additional 1,562 shares during the period. Ausdal Financial Partners Inc.’s holdings in ONEOK were worth $801,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Financial Counselors Inc. increased its stake in shares of ONEOK by 9.1% in the fourth quarter. Financial Counselors Inc. now owns 12,043 shares of the utilities provider’s stock worth $1,209,000 after buying an additional 1,002 shares during the period. Penobscot Investment Management Company Inc. grew its stake in shares of ONEOK by 12.8% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 35,417 shares of the utilities provider’s stock worth $3,556,000 after purchasing an additional 4,032 shares during the last quarter. Morey & Quinn Wealth Partners LLC purchased a new position in ONEOK during the 4th quarter valued at about $1,565,000. Ipsen Advisor Group LLC purchased a new stake in ONEOK in the 4th quarter worth approximately $581,000. Finally, Trust Investment Advisors grew its position in shares of ONEOK by 9.6% in the 4th quarter. Trust Investment Advisors now owns 21,500 shares of the utilities provider’s stock worth $2,159,000 after buying an additional 1,890 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $101.22 on Thursday. The company has a market capitalization of $63.20 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The company’s 50-day moving average is $98.72 and its 200 day moving average is $100.08.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Sell-side analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio is presently 79.69%.

Analyst Ratings Changes

Several analysts recently weighed in on OKE shares. Citigroup initiated coverage on shares of ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price target on the stock. Scotiabank reduced their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Monday, February 10th. Morgan Stanley lifted their price objective on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Barclays decreased their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

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.