Blankinship & Foster LLC Purchases Shares of 11,275 ONEOK, Inc. (NYSE:OKE)

Blankinship & Foster LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 11,275 shares of the utilities provider’s stock, valued at approximately $1,132,000.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of ONEOK during the 4th quarter valued at $182,694,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of ONEOK by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after acquiring an additional 934,007 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of ONEOK during the 3rd quarter valued at $47,957,000. National Pension Service lifted its holdings in shares of ONEOK by 65.3% during the 4th quarter. National Pension Service now owns 1,262,741 shares of the utilities provider’s stock valued at $126,779,000 after acquiring an additional 498,908 shares in the last quarter. Finally, Yaupon Capital Management LP acquired a new position in shares of ONEOK during the 3rd quarter valued at $45,194,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Citigroup assumed coverage on shares of ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 price target on the stock. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. UBS Group lifted their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company dropped their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.31.

ONEOK Price Performance

NYSE OKE opened at $89.59 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a fifty day simple moving average of $100.00 and a 200 day simple moving average of $99.29. The company has a market cap of $55.93 billion, a P/E ratio of 18.74, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.60%. ONEOK’s dividend payout ratio is currently 79.69%.

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.