Ipsen Advisor Group LLC Invests $581,000 in ONEOK, Inc. (NYSE:OKE)

Ipsen Advisor Group LLC acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, HoldingsChannel reports. The firm acquired 5,784 shares of the utilities provider’s stock, valued at approximately $581,000.

Several other institutional investors have also bought and sold shares of OKE. Kieckhefer Group LLC acquired a new position in ONEOK during the 4th quarter valued at about $30,000. Canton Hathaway LLC acquired a new position in shares of ONEOK during the fourth quarter valued at approximately $40,000. J.Safra Asset Management Corp bought a new stake in ONEOK during the fourth quarter worth approximately $48,000. VSM Wealth Advisory LLC acquired a new stake in ONEOK in the fourth quarter worth approximately $50,000. Finally, OFI Invest Asset Management bought a new position in ONEOK during the 4th quarter valued at $51,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

NYSE OKE opened at $102.42 on Wednesday. The company has a 50 day simple moving average of $98.84 and a 200-day simple moving average of $100.07. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. The firm has a market capitalization of $63.94 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. 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 posted its quarterly 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 business had revenue of $7 billion for 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%. Equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.02%. ONEOK’s payout ratio is 79.69%.

Analyst Ratings Changes

Several brokerages have recently weighed in on OKE. Citigroup began coverage on ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Morgan Stanley raised their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. Scotiabank cut their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Finally, Barclays dropped their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Seven equities 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 company. According to MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

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.