CoreCap Advisors LLC Grows Stock Holdings in ONEOK, Inc. (NYSE:OKE)

CoreCap Advisors LLC increased its holdings in ONEOK, Inc. (NYSE:OKE) by 10.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,864 shares of the utilities provider’s stock after purchasing an additional 374 shares during the quarter. CoreCap Advisors LLC’s holdings in ONEOK were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of OKE. Kieckhefer Group LLC bought a new position in ONEOK in the fourth quarter worth $30,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of ONEOK in the 4th quarter worth about $39,000. Canton Hathaway LLC bought a new position in shares of ONEOK in the 4th quarter worth about $40,000. J.Safra Asset Management Corp purchased a new position in ONEOK during the 4th quarter valued at about $48,000. Finally, VSM Wealth Advisory LLC bought a new stake in ONEOK during the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the subject of a number of analyst reports. Citigroup decreased their target price on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Morgan Stanley raised their price target on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Finally, Scotiabank dropped their price target on shares of ONEOK from $101.00 to $100.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, April 29th. Seven 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Stock Up 0.1 %

OKE stock opened at $82.33 on Friday. The business’s 50-day moving average is $89.10 and its two-hundred day moving average is $98.06. The company has a market cap of $51.43 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 3.77 and a beta of 1.01. 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 quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the previous year, the business posted $1.09 EPS. As a group, analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be paid a $1.03 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a yield of 5.00%. ONEOK’s payout ratio is presently 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.