Howe & Rusling Inc. Boosts Stock Position in ONEOK, Inc. (NYSE:OKE)

Howe & Rusling Inc. increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,241 shares of the utilities provider’s stock after purchasing an additional 244 shares during the period. Howe & Rusling Inc.’s holdings in ONEOK were worth $1,229,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Dynamic Technology Lab Private Ltd purchased a new stake in ONEOK during the 3rd quarter worth about $990,000. Brown Brothers Harriman & Co. lifted its holdings in shares of ONEOK by 10.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,401 shares of the utilities provider’s stock valued at $583,000 after acquiring an additional 603 shares in the last quarter. Bank of Montreal Can raised its stake in shares of ONEOK by 5.4% during the third quarter. Bank of Montreal Can now owns 867,616 shares of the utilities provider’s stock valued at $78,294,000 after purchasing an additional 44,293 shares during the period. D.A. Davidson & CO. boosted its holdings in ONEOK by 3.9% in the third quarter. D.A. Davidson & CO. now owns 152,283 shares of the utilities provider’s stock valued at $13,878,000 after purchasing an additional 5,693 shares during the last quarter. Finally, FMR LLC increased its position in shares of ONEOK by 11.7% in the 3rd quarter. FMR LLC now owns 1,171,917 shares of the utilities provider’s stock worth $106,797,000 after purchasing an additional 122,362 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

NYSE OKE opened at $101.22 on Thursday. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month 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 company has a fifty day simple moving average of $98.72 and a 200 day simple moving average of $100.08. The company has a market cap of $63.20 billion, a P/E ratio of 21.18, a PEG ratio of 3.77 and a beta of 1.70.

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

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.07%. ONEOK’s dividend payout ratio is 79.69%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OKE. Wells Fargo & Company dropped their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Citigroup initiated coverage on ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 price objective for the company. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Scotiabank dropped their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Finally, Morgan Stanley lifted their target price on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday. Seven 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 stock. According to MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.

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.