Dearborn Partners LLC Has $11.16 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Dearborn Partners LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 0.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 111,198 shares of the utilities provider’s stock after acquiring an additional 748 shares during the period. Dearborn Partners LLC’s holdings in ONEOK were worth $11,164,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in OKE. Nations Financial Group Inc. IA ADV raised its position in shares of ONEOK by 11.1% in the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock valued at $4,972,000 after purchasing an additional 5,451 shares during the period. FNY Investment Advisers LLC raised its holdings in ONEOK by 14,279.1% in the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after acquiring an additional 21,847 shares during the period. Kingswood Wealth Advisors LLC lifted its position in ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after acquiring an additional 5,321 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in ONEOK by 222.3% during the third quarter. Fifth Third Wealth Advisors LLC now owns 16,181 shares of the utilities provider’s stock valued at $1,475,000 after acquiring an additional 11,160 shares during the period. Finally, Mizuho Securities USA LLC grew its position in shares of ONEOK by 130.3% in the third quarter. Mizuho Securities USA LLC now owns 103,648 shares of the utilities provider’s stock valued at $9,445,000 after purchasing an additional 58,649 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on OKE. Citigroup initiated coverage on ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 price target for the company. UBS Group increased their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays decreased their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company decreased their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.31.

ONEOK Trading Up 2.1 %

Shares of ONEOK stock opened at $91.46 on Tuesday. The stock has a market capitalization of $57.10 billion, a P/E ratio of 19.13, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a 50-day simple moving average of $99.81 and a 200 day simple moving average of $99.49.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The company 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%. Research analysts expect 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. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.50%. ONEOK’s dividend payout ratio (DPR) is 79.69%.

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.