MONECO Advisors LLC Purchases 2,469 Shares of ONEOK, Inc. (NYSE:OKE)

MONECO Advisors LLC lifted its stake in ONEOK, Inc. (NYSE:OKE) by 66.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,160 shares of the utilities provider’s stock after acquiring an additional 2,469 shares during the period. MONECO Advisors LLC’s holdings in ONEOK were worth $433,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in OKE. Wellington Management Group LLP increased its holdings in shares of ONEOK by 2,643.5% in the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock worth $82,209,000 after purchasing an additional 1,128,066 shares during the period. Transcendent Capital Group LLC purchased a new stake in shares of ONEOK in the 4th quarter valued at about $696,000. ARK & TLK Investments LLC bought a new stake in shares of ONEOK during the 4th quarter valued at about $244,000. Beaird Harris Wealth Management LLC increased its position in shares of ONEOK by 58.6% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 51,526 shares of the utilities provider’s stock worth $3,618,000 after purchasing an additional 19,048 shares during the last quarter. Finally, Syon Capital LLC raised its stake in ONEOK by 20.3% in the fourth quarter. Syon Capital LLC now owns 11,632 shares of the utilities provider’s stock valued at $817,000 after purchasing an additional 1,961 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of OKE traded up $1.29 during mid-day trading on Monday, hitting $79.39. 802,158 shares of the stock were exchanged, compared to its average volume of 2,828,870. The firm has a 50-day moving average of $79.79 and a two-hundred day moving average of $75.01. ONEOK, Inc. has a 52-week low of $57.37 and a 52-week high of $83.31. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The company has a market cap of $46.34 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 4.19 and a beta of 1.65.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same period in the previous year, the firm posted $2.34 EPS. On average, equities analysts predict that ONEOK, Inc. will post 4.94 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date was Tuesday, April 30th. ONEOK’s payout ratio is currently 92.09%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Wells Fargo & Company increased their price objective on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Mizuho increased their price target on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Citigroup lifted their price objective on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Finally, Morgan Stanley lifted their price target on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, ONEOK has a consensus rating of “Hold” and an average target price of $84.25.

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.