Bramshill Investments LLC Invests $1.53 Million in ONEOK, Inc. (NYSE:OKE)

Bramshill Investments LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 15,220 shares of the utilities provider's stock, valued at approximately $1,528,000. ONEOK makes up about 0.2% of Bramshill Investments LLC's investment portfolio, making the stock its 26th biggest position.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new position in shares of ONEOK in the fourth quarter worth about $539,554,000. Wellington Management Group LLP raised its position in shares of ONEOK by 433.4% in the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock valued at $422,373,000 after purchasing an additional 3,418,207 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of ONEOK by 240.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock worth $280,194,000 after buying an additional 1,971,147 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of ONEOK in the fourth quarter worth $182,694,000. Finally, ClearBridge Investments Ltd acquired a new stake in ONEOK in the fourth quarter valued at $177,045,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Stock Performance

Shares of OKE traded up $0.08 during trading hours on Friday, reaching $82.33. 2,884,754 shares of the company's stock traded hands, compared to its average volume of 3,242,426. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. The business's fifty day simple moving average is $89.10 and its two-hundred day simple moving average is $98.05. 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 firm has a market capitalization 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 (NYSE:OKE - Get Free Report) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the previous year, the firm earned $1.09 EPS. Analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend is Monday, May 5th. ONEOK's payout ratio is currently 80.47%.

Wall Street Analyst Weigh In

OKE has been the subject of several research analyst reports. Morgan Stanley boosted their target price on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Wells Fargo & Company cut their price objective on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Barclays lowered their price target on ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Citigroup decreased their price objective on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Stifel Nicolaus decreased their price target on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $105.00.

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.