Symphony Financial Ltd. Co. Boosts Position in ONEOK, Inc. (NYSE:OKE)

Symphony Financial Ltd. Co. grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,575 shares of the utilities provider’s stock after buying an additional 564 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in ONEOK were worth $1,564,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after purchasing an additional 3,197,121 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in ONEOK by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after acquiring an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in ONEOK during the 3rd quarter valued at $47,957,000. Yaupon Capital Management LP acquired a new stake in shares of ONEOK during the third quarter valued at about $45,194,000. Finally, National Bank of Canada FI increased its position in shares of ONEOK by 199.9% during the third quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock worth $63,605,000 after acquiring an additional 465,243 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OKE. UBS Group raised their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Scotiabank initiated coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target on the stock. Royal Bank of Canada raised their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Finally, Bank of America began coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.

ONEOK Stock Down 2.9 %

NYSE:OKE opened at $96.95 on Friday. ONEOK, Inc. has a 52 week low of $67.05 and a 52 week high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a 50 day moving average of $104.51 and a 200-day moving average of $97.06. The firm has a market capitalization of $56.64 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 3.81 and a beta of 1.70.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the prior year, the business earned $0.99 earnings per share. Analysts predict that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date is Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is 82.85%.

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.