PFG Advisors Purchases 188 Shares of ONEOK, Inc. (NYSE:OKE)

PFG Advisors grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 3.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,420 shares of the utilities provider’s stock after acquiring an additional 188 shares during the period. PFG Advisors’ holdings in ONEOK were worth $645,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kieckhefer Group LLC bought a new position in shares of ONEOK during the 4th quarter valued at approximately $30,000. Canton Hathaway LLC bought a new position in ONEOK in the 4th quarter worth approximately $40,000. J.Safra Asset Management Corp purchased a new stake in ONEOK in the 4th quarter worth approximately $48,000. OFI Invest Asset Management purchased a new stake in ONEOK in the 4th quarter worth approximately $51,000. Finally, Versant Capital Management Inc lifted its stake in ONEOK by 98.1% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 260 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Trading Up 3.2 %

Shares of OKE opened at $96.52 on Friday. ONEOK, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07. The firm has a market capitalization of $60.26 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 3.77 and a beta of 1.70. The firm’s 50-day moving average price is $99.21 and its 200-day moving average price is $99.49. 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 (NYSE:OKE) last issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (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 company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. Sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.27%. ONEOK’s payout ratio is 79.69%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OKE. Barclays lowered their target price 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, March 7th. Scotiabank lowered their price objective 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. UBS Group increased their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company cut their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.31.

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.