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

SRS Capital Advisors Inc. grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 115.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Kieckhefer Group LLC bought a new position in ONEOK during the fourth quarter valued at about $30,000. Access Investment Management LLC acquired a new position in shares of ONEOK during the 3rd quarter valued at about $37,000. Canton Hathaway LLC bought a new position in shares of ONEOK in the 4th quarter valued at approximately $40,000. Versant Capital Management Inc lifted its holdings in ONEOK by 98.1% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 260 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in ONEOK during the third quarter worth approximately $57,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

OKE has been the topic of a number of recent analyst reports. Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Citigroup started coverage on shares of ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 price target for the company. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research report on Monday, February 10th. Finally, Wells Fargo & Company lowered their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.15.

ONEOK Stock Performance

OKE opened at $91.95 on Thursday. The stock’s 50 day simple moving average is $100.45 and its 200-day simple moving average is $99.34. 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 market cap of $57.40 billion, a PE ratio of 19.24, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.48%. ONEOK’s dividend payout ratio (DPR) is currently 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.