Premier Fund Managers Ltd Buys 14,500 Shares of ONEOK, Inc. (NYSE:OKE)

Premier Fund Managers Ltd lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 21.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,250 shares of the utilities provider’s stock after purchasing an additional 14,500 shares during the quarter. Premier Fund Managers Ltd’s holdings in ONEOK were worth $8,288,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Astoria Portfolio Advisors LLC. lifted its stake in shares of ONEOK by 4.1% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock valued at $260,000 after purchasing an additional 96 shares during the period. McAdam LLC increased its position in shares of ONEOK by 3.8% in the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock valued at $262,000 after buying an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC raised its stake in shares of ONEOK by 0.8% during the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after buying an additional 100 shares during the period. Mutual Advisors LLC grew its stake in ONEOK by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after acquiring an additional 103 shares during the period. Finally, Morton Capital Management LLC CA increased its holdings in ONEOK by 1.4% in the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after acquiring an additional 104 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price objective on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Scotiabank cut their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Citigroup initiated coverage on ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company. Finally, Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Price Performance

NYSE OKE opened at $98.76 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $61.66 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a 50 day moving average price of $98.53 and a two-hundred day moving average price of $100.07. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07.

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

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.17%. ONEOK’s dividend payout ratio (DPR) 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.