FORA Capital LLC Increases Stock Holdings in ONEOK, Inc. (NYSE:OKE)

FORA Capital LLC grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 19,185 shares of the utilities provider’s stock after purchasing an additional 260 shares during the quarter. FORA Capital LLC’s holdings in ONEOK were worth $1,926,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of ONEOK during the 4th quarter worth $539,554,000. Wellington Management Group LLP lifted its position in ONEOK by 433.4% during the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock valued at $422,373,000 after purchasing an additional 3,418,207 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in ONEOK by 240.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider’s stock valued at $280,194,000 after purchasing an additional 1,971,147 shares in the last quarter. Raymond James Financial Inc. bought a new stake in ONEOK during the fourth quarter valued at about $182,694,000. Finally, ClearBridge Investments Ltd purchased a new stake in ONEOK in the fourth quarter worth about $177,045,000. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the subject of a number of recent research reports. Wolfe Research upgraded 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. 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. Morgan Stanley raised their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Stifel Nicolaus dropped their target price on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Wells Fargo & Company decreased their price target on ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Trading Up 2.5 %

Shares of ONEOK stock opened at $82.23 on Friday. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. 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 business has a 50-day moving average price of $89.33 and a 200-day moving average price of $98.16. The firm has a market cap of $51.37 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 3.77 and a beta of 1.01.

ONEOK (NYSE:OKE) last issued its quarterly earnings data 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 return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period last year, the company earned $1.09 earnings per share. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.01%. The ex-dividend date is Monday, May 5th. ONEOK’s payout ratio is 80.47%.

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.