Titleist Asset Management LLC Buys Shares of 2,145 ONEOK, Inc. (NYSE:OKE)

Titleist Asset Management LLC purchased a new position in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,145 shares of the utilities provider’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. FNY Investment Advisers LLC increased its position in ONEOK by 14,279.1% in the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after purchasing an additional 21,847 shares during the last quarter. Kingswood Wealth Advisors LLC raised its position in ONEOK by 57.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock valued at $1,456,000 after acquiring an additional 5,321 shares in the last quarter. Simon Quick Advisors LLC acquired a new stake in ONEOK in the fourth quarter valued at approximately $251,000. Sumitomo Mitsui Trust Group Inc. grew its position in ONEOK by 9.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider’s stock worth $155,038,000 after acquiring an additional 136,071 shares in the last quarter. Finally, Contravisory Investment Management Inc. acquired a new position in shares of ONEOK during the 4th quarter worth $9,483,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on OKE. Citigroup assumed coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Morgan Stanley upped their price target on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Scotiabank cut their price objective 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. Wells Fargo & Company decreased their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Finally, Barclays dropped their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Seven investment 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $105.00.

ONEOK Price Performance

Shares of ONEOK stock opened at $80.72 on Tuesday. The firm has a fifty day moving average price of $96.69 and a two-hundred day moving average price of $100.21. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market cap of $50.40 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share 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 analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Analysts expect that ONEOK, Inc. will post 5.07 EPS 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 paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.10%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. 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.