Shelton Capital Management Acquires 392 Shares of ONEOK, Inc. (NYSE:OKE)

Shelton Capital Management increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,072 shares of the utilities provider’s stock after acquiring an additional 392 shares during the quarter. Shelton Capital Management’s holdings in ONEOK were worth $1,312,000 as of its most recent SEC filing.

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

ONEOK Trading Down 2.9 %

ONEOK stock opened at $78.57 on Wednesday. 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 fifty-two week low of $75.48 and a fifty-two week high of $118.07. The stock has a market cap of $49.05 billion, a P/E ratio of 16.44, a PEG ratio of 3.77 and a beta of 1.20. The firm’s fifty day moving average price is $95.81 and its 200-day moving average price is $99.95.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. Equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 5.24%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 79.69%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Wells Fargo & Company decreased their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Citigroup began coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 target price for the company. Finally, Morgan Stanley upped their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from 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.