Metis Global Partners LLC Buys 2,580 Shares of ONEOK, Inc. (NYSE:OKE)

Metis Global Partners LLC raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,453 shares of the utilities provider’s stock after buying an additional 2,580 shares during the quarter. Metis Global Partners LLC’s holdings in ONEOK were worth $7,977,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of OKE. Arkadios Wealth Advisors lifted its holdings in shares of ONEOK by 18.8% during the third quarter. Arkadios Wealth Advisors now owns 3,315 shares of the utilities provider’s stock worth $302,000 after buying an additional 525 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of ONEOK by 37.7% during the third quarter. Pinnacle Associates Ltd. now owns 5,776 shares of the utilities provider’s stock worth $526,000 after buying an additional 1,582 shares during the last quarter. HM Payson & Co. lifted its holdings in shares of ONEOK by 6.3% during the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after buying an additional 105 shares during the last quarter. US Bancorp DE lifted its holdings in shares of ONEOK by 2.4% during the third quarter. US Bancorp DE now owns 86,296 shares of the utilities provider’s stock worth $7,864,000 after buying an additional 2,012 shares during the last quarter. Finally, Stephens Inc. AR lifted its holdings in shares of ONEOK by 1.0% during the third quarter. Stephens Inc. AR now owns 41,028 shares of the utilities provider’s stock worth $3,739,000 after buying an additional 403 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

ONEOK stock opened at $100.29 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a fifty day moving average price of $100.91 and a two-hundred day moving average price of $99.10. ONEOK, Inc. has a 52-week low of $74.39 and a 52-week high of $118.07. The firm has a market capitalization of $58.59 billion, a P/E ratio of 20.98, a P/E/G ratio of 3.77 and a beta of 1.70.

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

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is presently 86.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OKE shares. Citigroup began coverage on ONEOK in a report on Friday. They set a “buy” rating and a $110.00 price target for the company. Scotiabank began coverage on ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price for the company. UBS Group upped their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays began coverage on ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 target price for the company. Finally, Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average target price of $104.15.

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.