Annandale Capital LLC Takes $205,000 Position in ONEOK, Inc. (NYSE:OKE)

Annandale Capital LLC acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 2,045 shares of the utilities provider’s stock, valued at approximately $205,000.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OKE. Citigroup initiated 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 upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Barclays decreased their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Wolfe Research upgraded 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. Finally, Morgan Stanley boosted their target price on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Price Performance

ONEOK stock opened at $80.73 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The business has a 50 day simple moving average of $97.08 and a 200-day simple moving average of $100.22. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. The stock has a market capitalization of $50.40 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current 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 given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 5.10%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is presently 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.