ONEOK, Inc. (NYSE:OKE) Shares Bought by Waverly Advisors LLC

Waverly Advisors LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 21.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 8,850 shares of the utilities provider’s stock after buying an additional 1,549 shares during the quarter. Waverly Advisors LLC’s holdings in ONEOK were worth $889,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in OKE. Greenline Partners LLC acquired a new position in ONEOK in the fourth quarter valued at $32,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of ONEOK in the 4th quarter worth about $39,000. Canton Hathaway LLC acquired a new position in shares of ONEOK in the 4th quarter valued at about $40,000. J.Safra Asset Management Corp acquired a new stake in ONEOK during the 4th quarter worth approximately $48,000. Finally, VSM Wealth Advisory LLC purchased a new position in ONEOK in the fourth quarter valued at approximately $50,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. Wells Fargo & Company decreased their price target on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus cut their price objective on ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Citigroup decreased their target price on ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Finally, US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Six equities research 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’s stock. According to MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.69.

ONEOK Stock Performance

ONEOK stock opened at $81.13 on Friday. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week 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. The stock has a market cap of $50.68 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01. The stock has a 50 day moving average of $87.26 and a 200-day moving average of $97.22.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the prior year, the company earned $1.09 earnings per share. On average, analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a dividend of $1.03 per share. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.08%. ONEOK’s payout ratio is 80.47%.

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.