Farringdon Capital Ltd. Takes Position in ONEOK, Inc. (NYSE:OKE)

Farringdon Capital Ltd. bought a new position in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 13,939 shares of the utilities provider’s stock, valued at approximately $1,399,000. ONEOK makes up about 0.6% of Farringdon Capital Ltd.’s portfolio, making the stock its 26th biggest holding.

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

ONEOK Stock Up 0.8 %

Shares of NYSE:OKE opened at $84.85 on Thursday. The company has a 50-day moving average price of $93.89 and a 200 day moving average price of $99.40. 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, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The company has a market cap of $53.00 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 3.77 and a beta of 1.20.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. As a group, equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.86%. ONEOK’s payout ratio is 79.69%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OKE. Barclays cut 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. Citigroup assumed coverage on shares of ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 price objective for the company. Morgan Stanley upped their target price on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Wells Fargo & Company reduced 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. Finally, Scotiabank decreased their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.42.

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.