Resources Investment Advisors Inc. Boosts Stake in ONEOK, Inc. (OKE)

Resources Investment Advisors Inc. grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 649.8% in the 4th quarter, HoldingsChannel reports. The firm owned 11,765 shares of the utilities provider’s stock after purchasing an additional 10,196 shares during the period. Resources Investment Advisors Inc.’s holdings in ONEOK were worth $629,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Capital Advisors Inc. OK boosted its holdings in shares of ONEOK by 3.1% in the fourth quarter. Capital Advisors Inc. OK now owns 29,582 shares of the utilities provider’s stock worth $1,581,000 after buying an additional 881 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in shares of ONEOK by 4.8% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 19,520 shares of the utilities provider’s stock worth $1,018,000 after buying an additional 897 shares during the period. Benson Investment Management Company Inc. boosted its holdings in shares of ONEOK by 2.1% in the fourth quarter. Benson Investment Management Company Inc. now owns 44,565 shares of the utilities provider’s stock worth $2,382,000 after buying an additional 905 shares during the period. Segment Wealth Management LLC boosted its holdings in shares of ONEOK by 5.3% in the fourth quarter. Segment Wealth Management LLC now owns 19,772 shares of the utilities provider’s stock worth $1,056,000 after buying an additional 1,003 shares during the period. Finally, Sentry Investment Management LLC boosted its holdings in shares of ONEOK by 6.9% in the second quarter. Sentry Investment Management LLC now owns 16,252 shares of the utilities provider’s stock worth $848,000 after buying an additional 1,056 shares during the period. Institutional investors own 66.30% of the company’s stock.

OKE has been the subject of several recent analyst reports. UBS Group raised their target price on shares of ONEOK from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Zacks Investment Research cut shares of ONEOK from a “buy” rating to a “sell” rating in a report on Tuesday, October 31st. Royal Bank of Canada upgraded shares of ONEOK from a “sector perform” rating to an “outperform” rating in a report on Tuesday, January 16th. BMO Capital Markets reiterated a “buy” rating and issued a $64.00 target price on shares of ONEOK in a report on Tuesday, January 16th. Finally, Barclays upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $58.00 to $67.00 in a report on Wednesday, January 17th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $60.07.

Shares of ONEOK, Inc. (NYSE OKE) opened at $58.86 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The company has a market cap of $24,107.27, a P/E ratio of 36.79, a P/E/G ratio of 1.86 and a beta of 1.25. ONEOK, Inc. has a fifty-two week low of $47.14 and a fifty-two week high of $61.36.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.80 billion. ONEOK had a return on equity of 9.25% and a net margin of 3.76%. During the same quarter in the prior year, the business posted $0.43 earnings per share. analysts anticipate that ONEOK, Inc. will post 1.77 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Monday, January 29th will be issued a dividend of $0.77 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a dividend yield of 5.23%. The ex-dividend date of this dividend is Friday, January 26th. ONEOK’s dividend payout ratio (DPR) is currently 192.50%.

In related news, Director Brian L. Derksen purchased 1,800 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average cost of $51.00 per share, for a total transaction of $91,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

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ONEOK Company Profile

ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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