Bearing Point Capital LLC Buys Shares of 6,656 ONEOK, Inc. (NYSE:OKE)

Bearing Point Capital LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,656 shares of the utilities provider's stock, valued at approximately $668,000.

Several other institutional investors have also added to or reduced their stakes in the business. Kieckhefer Group LLC acquired a new position in shares of ONEOK in the 4th quarter valued at $30,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of ONEOK in the fourth quarter valued at about $39,000. Canton Hathaway LLC purchased a new position in shares of ONEOK in the fourth quarter worth about $40,000. J.Safra Asset Management Corp acquired a new stake in shares of ONEOK during the fourth quarter worth about $48,000. Finally, VSM Wealth Advisory LLC purchased a new stake in ONEOK in the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 69.13% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Wells Fargo & Company lowered their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Morgan Stanley lifted their price objective on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a research note on Monday, February 10th. Finally, Stifel Nicolaus decreased their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ONEOK has an average rating of "Moderate Buy" and a consensus target price of $105.00.

ONEOK Price Performance

Shares of OKE stock traded up $0.08 on Friday, reaching $82.33. 2,884,754 shares of the company were exchanged, compared to its average volume of 3,248,639. The company has a market cap of $51.43 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 3.77 and a beta of 1.01. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The business has a 50-day moving average price of $89.10 and a 200 day moving average price of $98.06. 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 (NYSE:OKE - Get Free Report) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $8.23 billion. During the same quarter last year, the business earned $1.09 EPS. Equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date is Monday, May 5th. ONEOK's dividend payout ratio (DPR) is 80.47%.

ONEOK 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.