Ethic Inc. Buys 22,951 Shares of ONEOK, Inc. (NYSE:OKE)

Ethic Inc. increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 22.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 126,837 shares of the utilities provider’s stock after buying an additional 22,951 shares during the quarter. Ethic Inc.’s holdings in ONEOK were worth $12,734,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. FORA Capital LLC boosted its position in shares of ONEOK by 1.4% during the fourth quarter. FORA Capital LLC now owns 19,185 shares of the utilities provider’s stock worth $1,926,000 after buying an additional 260 shares during the period. Fred Alger Management LLC raised its holdings in shares of ONEOK by 4.9% in the 4th quarter. Fred Alger Management LLC now owns 42,459 shares of the utilities provider’s stock valued at $4,263,000 after purchasing an additional 1,989 shares during the period. CoreCap Advisors LLC lifted its position in shares of ONEOK by 10.7% in the fourth quarter. CoreCap Advisors LLC now owns 3,864 shares of the utilities provider’s stock valued at $388,000 after buying an additional 374 shares during the last quarter. Centiva Capital LP acquired a new stake in ONEOK during the 4th quarter valued at $735,000. Finally, Cetera Investment Advisers increased its holdings in shares of ONEOK by 1.1% in the fourth quarter. Cetera Investment Advisers now owns 642,028 shares of the utilities provider’s stock valued at $64,460,000 after purchasing an additional 7,276 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Citigroup decreased their target price on ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a research report on Tuesday. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Scotiabank decreased their price objective on shares of ONEOK from $101.00 to $100.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, April 29th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research note on Monday, February 10th. Finally, Barclays lowered their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Price Performance

OKE stock opened at $82.23 on Friday. The firm has a market cap of $51.37 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 3.77 and a beta of 1.01. 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’s fifty day simple moving average is $89.33 and its 200 day simple moving average is $98.16. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the previous year, the company posted $1.09 earnings per share. On average, analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be issued a dividend of $1.03 per share. The ex-dividend date is Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.01%. ONEOK’s dividend payout ratio is currently 80.47%.

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.