Martel Wealth Advisors Inc Takes $510,000 Position in ONEOK, Inc. (NYSE:OKE)

Martel Wealth Advisors Inc purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,078 shares of the utilities provider’s stock, valued at approximately $510,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ieq Capital LLC raised its position in shares of ONEOK by 9.6% in the second quarter. Ieq Capital LLC now owns 24,843 shares of the utilities provider’s stock valued at $2,026,000 after buying an additional 2,167 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in ONEOK by 37.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 53,591 shares of the utilities provider’s stock valued at $4,370,000 after buying an additional 14,505 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of ONEOK by 2.7% during the 2nd quarter. Pacer Advisors Inc. now owns 90,454 shares of the utilities provider’s stock worth $7,377,000 after acquiring an additional 2,373 shares during the period. Summit Trail Advisors LLC boosted its position in shares of ONEOK by 22.9% during the 2nd quarter. Summit Trail Advisors LLC now owns 7,003 shares of the utilities provider’s stock valued at $571,000 after acquiring an additional 1,303 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its holdings in shares of ONEOK by 12.0% in the second quarter. Ensign Peak Advisors Inc now owns 342,612 shares of the utilities provider’s stock valued at $27,940,000 after purchasing an additional 36,820 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Up 0.4 %

Shares of ONEOK stock opened at $109.08 on Tuesday. ONEOK, Inc. has a 52-week low of $67.05 and a 52-week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $63.72 billion, a P/E ratio of 22.82, a P/E/G ratio of 4.66 and a beta of 1.70. The company has a 50 day moving average of $106.17 and a 200 day moving average of $95.83.

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 the consensus estimate of $1.23 by ($0.05). The company had revenue of $5.02 billion during the quarter, compared to analyst estimates 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 company earned $0.99 EPS. As a group, research analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on OKE. Barclays increased their price target on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Royal Bank of Canada upped their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. UBS Group raised their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Scotiabank started coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target on the stock. Finally, US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $102.92.

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.