ONEOK, Inc. (NYSE:OKE) Stake Increased by Howard Capital Management Inc.

Howard Capital Management Inc. raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,671 shares of the utilities provider’s stock after acquiring an additional 194 shares during the quarter. Howard Capital Management Inc.’s holdings in ONEOK were worth $569,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Ballentine Partners LLC lifted its position in shares of ONEOK by 7.3% during the third quarter. Ballentine Partners LLC now owns 4,707 shares of the utilities provider’s stock worth $429,000 after purchasing an additional 320 shares during the last quarter. Mediolanum International Funds Ltd raised its stake in ONEOK by 6.4% during the third quarter. Mediolanum International Funds Ltd now owns 16,450 shares of the utilities provider’s stock valued at $1,482,000 after buying an additional 992 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in ONEOK by 18.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 3,315 shares of the utilities provider’s stock worth $302,000 after buying an additional 525 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of ONEOK by 9.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 218,544 shares of the utilities provider’s stock worth $19,916,000 after acquiring an additional 18,782 shares in the last quarter. Finally, Frank Rimerman Advisors LLC grew its position in shares of ONEOK by 50.8% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 15,546 shares of the utilities provider’s stock worth $1,417,000 after acquiring an additional 5,239 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Up 0.0 %

NYSE:OKE opened at $98.14 on Tuesday. ONEOK, Inc. has a 1 year low of $72.44 and a 1 year high of $118.07. The business has a fifty day moving average of $101.09 and a 200-day moving average of $98.96. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a market cap of $57.33 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating 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%. Equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.20%. ONEOK’s payout ratio is presently 86.19%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OKE. Scotiabank began coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective on the stock. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research report on Wednesday, December 18th. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Finally, UBS Group increased their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Seven 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $103.92.

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.