Brown Brothers Harriman & Co. Buys 733 Shares of ONEOK, Inc. (NYSE:OKE)

Brown Brothers Harriman & Co. grew its stake in ONEOK, Inc. (NYSE:OKE) by 11.5% during the fourth quarter, Holdings Channel reports. The firm owned 7,134 shares of the utilities provider’s stock after purchasing an additional 733 shares during the period. Brown Brothers Harriman & Co.’s holdings in ONEOK were worth $716,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Kieckhefer Group LLC bought a new position in ONEOK during the 4th quarter valued at $30,000. Canton Hathaway LLC purchased a new stake in shares of ONEOK in the fourth quarter valued at about $40,000. J.Safra Asset Management Corp bought a new position in shares of ONEOK during the fourth quarter valued at about $48,000. VSM Wealth Advisory LLC purchased a new position in ONEOK during the fourth quarter worth about $50,000. Finally, OFI Invest Asset Management bought a new stake in ONEOK in the 4th quarter worth about $51,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $98.47 on Monday. The firm’s 50 day moving average is $98.32 and its 200 day moving average is $100.24. The stock has a market capitalization of $61.48 billion, a P/E ratio of 20.60, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. 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 posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is presently 79.69%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on OKE shares. Scotiabank cut their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research report on Monday, February 10th. 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. 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, Morgan Stanley raised their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Seven investment 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $105.00.

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.