Scissortail Wealth Management LLC Has $1.81 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Scissortail Wealth Management LLC boosted its stake in ONEOK, Inc. (NYSE:OKE) by 94,836.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,038 shares of the utilities provider’s stock after purchasing an additional 18,019 shares during the quarter. Scissortail Wealth Management LLC’s holdings in ONEOK were worth $1,811,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in OKE. Greenline Partners LLC bought a new stake in shares of ONEOK in the 4th quarter valued at about $32,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in ONEOK during the fourth quarter valued at approximately $39,000. Canton Hathaway LLC bought a new stake in ONEOK in the fourth quarter valued at approximately $40,000. J.Safra Asset Management Corp acquired a new stake in ONEOK in the fourth quarter worth $48,000. Finally, VSM Wealth Advisory LLC acquired a new stake in ONEOK in the fourth quarter worth $50,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Down 0.3%

NYSE:OKE opened at $85.74 on Friday. The company has a market cap of $53.55 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. The business has a 50 day moving average price of $88.59 and a two-hundred day moving average price of $97.69. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

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

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.81%. ONEOK’s dividend payout ratio is 80.47%.

Wall Street Analysts Forecast Growth

OKE has been the subject of several research analyst reports. Citigroup decreased their price target on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Stifel Nicolaus decreased their target price on ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. 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. Scotiabank cut their price objective on ONEOK from $101.00 to $100.00 and set a “sector outperform” rating on the stock in a report on Tuesday, April 29th. Finally, US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given 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 target price of $105.00.

ONEOK 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.