Selective Wealth Management Inc. Buys 606 Shares of ONEOK, Inc. (NYSE:OKE)

Selective Wealth Management Inc. increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,242 shares of the utilities provider’s stock after buying an additional 606 shares during the quarter. ONEOK accounts for 0.6% of Selective Wealth Management Inc.’s portfolio, making the stock its 24th biggest holding. Selective Wealth Management Inc.’s holdings in ONEOK were worth $1,510,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OKE. Quest Partners LLC bought a new stake in shares of ONEOK during the second quarter valued at approximately $28,000. Matrix Trust Co bought a new stake in ONEOK in the 3rd quarter valued at $29,000. Kieckhefer Group LLC acquired a new position in shares of ONEOK in the 4th quarter valued at $30,000. Access Investment Management LLC bought a new position in shares of ONEOK during the 3rd quarter worth about $37,000. Finally, Values First Advisors Inc. acquired a new stake in shares of ONEOK during the 3rd quarter valued at about $44,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Up 0.4 %

NYSE OKE opened at $109.08 on Friday. 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 52 week low of $67.05 and a 52 week high of $118.07. The stock has a market capitalization of $63.72 billion, a P/E ratio of 22.82, a price-to-earnings-growth ratio of 4.35 and a beta of 1.70. The stock has a fifty day moving average of $106.13 and a 200-day moving average of $95.46.

ONEOK (NYSE:OKE) last released its 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). 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 analyst estimates of $5.81 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. On average, equities research analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OKE. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research report on Wednesday, December 18th. UBS Group boosted their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Scotiabank started coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective for the company. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Finally, Barclays lifted their price target on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $101.54.

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.