Blankinship & Foster LLC Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Blankinship & Foster LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, HoldingsChannel reports. The fund acquired 11,275 shares of the utilities provider’s stock, valued at approximately $1,132,000.

A number of other hedge funds have also recently added to or reduced their stakes in OKE. Kieckhefer Group LLC bought a new position in shares of ONEOK in the 4th quarter valued at about $30,000. Access Investment Management LLC bought a new position in ONEOK during the 3rd quarter worth approximately $37,000. Canton Hathaway LLC bought a new position in ONEOK during the 4th quarter worth approximately $40,000. J.Safra Asset Management Corp bought a new position in ONEOK during the 4th quarter worth approximately $48,000. Finally, Versant Capital Management Inc boosted its stake in ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 260 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $89.59 on Friday. The company has a market cap of $55.93 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm has a 50 day moving average of $100.00 and a 200-day moving average of $99.29.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. On average, equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.60%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OKE. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Barclays reduced their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Monday, February 10th. UBS Group raised their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Scotiabank dropped their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and an average target price of $103.31.

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.