Donoghue Forlines LLC Grows Stock Position in ONEOK, Inc. (NYSE:OKE)

Donoghue Forlines LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 250.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,953 shares of the utilities provider’s stock after acquiring an additional 10,684 shares during the quarter. Donoghue Forlines LLC’s holdings in ONEOK were worth $1,501,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC increased its stake in ONEOK by 9,439.9% during 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. increased its position in shares of 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 valued at $1,593,023,000 after acquiring an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in ONEOK in the 3rd quarter worth $47,957,000. Yaupon Capital Management LP acquired a new stake in ONEOK during the 3rd quarter worth about $45,194,000. Finally, National Bank of Canada FI grew its stake in ONEOK by 199.9% during the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock valued at $63,605,000 after purchasing 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

OKE has been the topic of a number of recent research reports. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Royal Bank of Canada upped their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Barclays raised their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Finally, UBS Group lifted 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. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.92.

ONEOK Stock Performance

OKE opened at $106.26 on Thursday. The firm has a market capitalization of $62.07 billion, a PE ratio of 22.21, a PEG ratio of 4.16 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 twelve month low of $67.05 and a twelve month high of $118.07. The firm’s 50-day moving average price is $106.17 and its 200 day moving average price is $96.28.

ONEOK (NYSE:OKE) last posted its quarterly earnings results 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). The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter last year, the company earned $0.99 earnings per share. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.88%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 82.85%.

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.