KCM Investment Advisors LLC Acquires 2,256 Shares of ONEOK, Inc. (NYSE:OKE)

KCM Investment Advisors LLC increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 90.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,743 shares of the utilities provider’s stock after purchasing an additional 2,256 shares during the period. KCM Investment Advisors LLC’s holdings in ONEOK were worth $476,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of OKE. Morse Asset Management Inc purchased a new position in shares of ONEOK in the 3rd quarter valued at $346,000. Quantinno Capital Management LP grew its stake in ONEOK by 27.9% in the third quarter. Quantinno Capital Management LP now owns 54,500 shares of the utilities provider’s stock valued at $4,967,000 after purchasing an additional 11,898 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of ONEOK by 129.2% during the third quarter. Wellington Management Group LLP now owns 788,699 shares of the utilities provider’s stock valued at $71,874,000 after buying an additional 444,559 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of ONEOK by 54.8% in the 3rd quarter. EP Wealth Advisors LLC now owns 22,859 shares of the utilities provider’s stock valued at $2,083,000 after buying an additional 8,091 shares in the last quarter. Finally, National Bank of Canada FI grew its position in shares of ONEOK by 199.9% in the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock worth $63,605,000 after buying an additional 465,243 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

NYSE:OKE opened at $80.73 on Monday. The firm’s fifty day moving average is $97.08 and its two-hundred day moving average is $100.30. The firm has a market cap of $50.40 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 3.77 and a beta of 1.20. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. Research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 5.10%. ONEOK’s dividend payout ratio is 79.69%.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of analyst reports. Barclays decreased their target price 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. Wells Fargo & Company lowered their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Citigroup began coverage on ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 target price on the stock. Scotiabank lowered their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Finally, Morgan Stanley boosted their price target on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Seven 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.