SRS Capital Advisors Inc. Buys 626 Shares of ONEOK, Inc. (NYSE:OKE)

SRS Capital Advisors Inc. lifted its position in ONEOK, Inc. (NYSE:OKE) by 115.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,167 shares of the utilities provider’s stock after purchasing an additional 626 shares during the quarter. SRS Capital Advisors Inc.’s holdings in ONEOK were worth $117,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in shares of ONEOK by 4.3% during the third quarter. Farther Finance Advisors LLC now owns 7,592 shares of the utilities provider’s stock worth $692,000 after buying an additional 313 shares in the last quarter. Janney Montgomery Scott LLC grew its position in ONEOK by 1.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 187,696 shares of the utilities provider’s stock worth $17,105,000 after acquiring an additional 3,139 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in ONEOK by 50.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 151,844 shares of the utilities provider’s stock valued at $13,838,000 after purchasing an additional 50,808 shares in the last quarter. National Pension Service raised its position in ONEOK by 1.6% in the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after purchasing an additional 12,349 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its stake in ONEOK by 6.5% in the third quarter. QRG Capital Management Inc. now owns 5,936 shares of the utilities provider’s stock worth $541,000 after purchasing an additional 364 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OKE. 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. Wells Fargo & Company lowered their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Citigroup began coverage on shares of ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 target price on the stock. Scotiabank assumed coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. Finally, Barclays initiated coverage on ONEOK in a report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $104.15.

ONEOK Stock Down 2.0 %

NYSE:OKE opened at $91.95 on Thursday. 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, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07. The stock’s fifty day simple moving average is $100.45 and its 200-day simple moving average is $99.34. The firm has a market capitalization of $57.40 billion, a P/E ratio of 19.24, a P/E/G ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The firm 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%. Equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is presently 79.69%.

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.