3,388 Shares in ONEOK, Inc. (NYSE:OKE) Acquired by Southland Equity Partners LLC

Southland Equity Partners LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,388 shares of the utilities provider’s stock, valued at approximately $340,000.

A number of other hedge funds have also recently added to or reduced their stakes in OKE. International Assets Investment Management LLC grew 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 worth $294,440,000 after buying an additional 3,197,121 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in ONEOK by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after buying an additional 661,854 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in ONEOK during the 3rd quarter worth approximately $47,957,000. Yaupon Capital Management LP purchased a new position in ONEOK during the 3rd quarter worth approximately $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 worth $63,605,000 after buying an additional 465,243 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OKE. Barclays lifted their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a research note on Wednesday, December 18th. Scotiabank began coverage on ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price on the stock. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Finally, Bank of America began coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.92.

ONEOK Stock Down 1.3 %

OKE opened at $104.91 on Friday. The business has a 50 day simple moving average of $106.17 and a 200-day simple moving average of $96.28. The stock has a market capitalization of $61.29 billion, a P/E ratio of 21.95, a P/E/G ratio of 4.03 and a beta of 1.70. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last issued 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 firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the prior year, the firm posted $0.99 earnings per share. On average, equities analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share 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 dividend of $1.03 per share. The ex-dividend date is Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 3.93%. ONEOK’s payout ratio is currently 82.85%.

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.