Advisory Services Network LLC Has $2.79 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Advisory Services Network LLC raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 6.7% in the fourth quarter, HoldingsChannel reports. The fund owned 27,790 shares of the utilities provider’s stock after acquiring an additional 1,743 shares during the period. Advisory Services Network LLC’s holdings in ONEOK were worth $2,790,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Monday, February 10th. Barclays reduced their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Morgan Stanley increased their target price on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

ONEOK Stock Down 4.5 %

OKE stock opened at $81.05 on Friday. The stock has a market capitalization of $50.62 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a 50-day moving average price of $94.93 and a 200-day moving average price of $99.67. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal 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. This represents a $4.12 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is presently 79.69%.

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.