Foundations Investment Advisors LLC Has $829,000 Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Foundations Investment Advisors LLC boosted its position in ONEOK, Inc. (NYSE:OKE) by 7.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,258 shares of the utilities provider’s stock after purchasing an additional 598 shares during the period. Foundations Investment Advisors LLC’s holdings in ONEOK were worth $829,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kieckhefer Group LLC bought a new stake in shares of ONEOK during the 4th quarter worth about $30,000. Matrix Trust Co bought a new stake in shares of ONEOK during the third quarter worth approximately $29,000. Access Investment Management LLC acquired a new position in shares of ONEOK in the third quarter valued at approximately $37,000. Values First Advisors Inc. bought a new position in shares of ONEOK during the third quarter worth approximately $44,000. Finally, Fortitude Family Office LLC lifted its holdings in ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 135 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.2 %

Shares of NYSE OKE opened at $100.38 on Thursday. The company has a market cap of $58.64 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 4.03 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07. The stock has a 50-day moving average price of $105.51 and a two-hundred day moving average price of $96.93.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the company earned $0.99 earnings per share. As a group, analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.10%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. ONEOK’s dividend payout ratio is presently 82.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on OKE shares. Scotiabank assumed coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price for the company. Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Bank of America initiated coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price on the stock. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research note on Wednesday, December 18th. Finally, Barclays raised their price objective on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.92.

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.