Ibex Wealth Advisors Invests $18.01 Million in ONEOK, Inc. (NYSE:OKE)

Ibex Wealth Advisors purchased a new stake in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 179,427 shares of the utilities provider’s stock, valued at approximately $18,014,000. ONEOK makes up 2.1% of Ibex Wealth Advisors’ holdings, making the stock its 7th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. lifted its holdings in ONEOK by 4.1% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after purchasing an additional 96 shares during the last quarter. Mutual Advisors LLC lifted its stake in shares of ONEOK by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after buying an additional 103 shares during the last quarter. Morton Capital Management LLC CA boosted its holdings in shares of ONEOK by 1.4% during the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after buying an additional 104 shares during the period. HM Payson & Co. grew its stake in ONEOK by 6.3% in the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after buying an additional 105 shares during the last quarter. Finally, Bill Few Associates Inc. raised its holdings in ONEOK by 3.9% in the 4th quarter. Bill Few Associates Inc. now owns 2,773 shares of the utilities provider’s stock worth $278,000 after acquiring an additional 105 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of OKE stock traded up $0.20 during trading hours on Wednesday, hitting $100.80. The company had a trading volume of 307,295 shares, compared to its average volume of 2,971,105. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm’s fifty day moving average is $105.51 and its 200 day moving average is $96.93. The firm has a market capitalization of $58.89 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 4.03 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the company earned $0.99 earnings per share. On average, sell-side analysts predict that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Scotiabank began coverage on shares of ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target for the company. Royal Bank of Canada lifted their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a research report on Wednesday, December 18th. Finally, UBS Group increased their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $102.92.

About ONEOK

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.