Westwood Holdings Group Inc. Has $179.23 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Westwood Holdings Group Inc. raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 7.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,785,160 shares of the utilities provider’s stock after acquiring an additional 126,813 shares during the period. ONEOK makes up 1.4% of Westwood Holdings Group Inc.’s portfolio, making the stock its 7th biggest holding. Westwood Holdings Group Inc.’s holdings in ONEOK were worth $179,230,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Greenline Partners LLC bought a new stake in ONEOK during the fourth quarter valued at about $32,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of ONEOK during the fourth quarter valued at about $39,000. Canton Hathaway LLC acquired a new position in shares of ONEOK during the fourth quarter valued at about $40,000. J.Safra Asset Management Corp acquired a new position in shares of ONEOK during the fourth quarter valued at about $48,000. Finally, VSM Wealth Advisory LLC acquired a new position in shares of ONEOK during the fourth quarter valued at about $50,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Trading Down 0.3%

OKE stock opened at $85.74 on Monday. The business has a fifty day moving average price of $88.59 and a 200 day moving average price of $97.71. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07. The stock has a market capitalization of $53.55 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 3.77 and a beta of 1.01. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last released its quarterly 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). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period last year, the company earned $1.09 earnings per share. Analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 4.81%. ONEOK’s dividend payout ratio (DPR) is currently 80.47%.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of research analyst reports. Scotiabank cut their price objective on shares of ONEOK from $101.00 to $100.00 and set a “sector outperform” rating for the company in a research report on Tuesday, April 29th. Morgan Stanley increased their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Wells Fargo & Company dropped their price target on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus dropped their price target on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, Citigroup dropped their price target on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Six 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.