Bramshill Investments LLC Takes Position in ONEOK, Inc. (NYSE:OKE)

Bramshill Investments LLC bought a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,220 shares of the utilities provider's stock, valued at approximately $1,528,000. ONEOK accounts for about 0.2% of Bramshill Investments LLC's holdings, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OKE. Cary Street Partners Financial LLC bought a new position in ONEOK during the 4th quarter worth approximately $1,522,000. Brown Advisory Inc. raised its holdings in ONEOK by 1.3% in the fourth quarter. Brown Advisory Inc. now owns 147,014 shares of the utilities provider's stock worth $14,760,000 after purchasing an additional 1,918 shares during the period. Balyasny Asset Management L.P. boosted its position in shares of ONEOK by 8.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 33,839 shares of the utilities provider's stock worth $3,397,000 after purchasing an additional 2,582 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of ONEOK by 2.6% in the 4th quarter. Baird Financial Group Inc. now owns 93,719 shares of the utilities provider's stock valued at $9,409,000 after buying an additional 2,404 shares during the period. Finally, Bayesian Capital Management LP bought a new stake in shares of ONEOK in the 4th quarter valued at $1,966,000. Institutional investors own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on OKE shares. Citigroup decreased their target price on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday. Stifel Nicolaus lowered their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Barclays cut their price target on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company lowered their price objective on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price for the company in a research note on Monday, February 10th. 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 data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $105.00.

ONEOK Stock Performance

Shares of OKE traded up $0.08 during midday trading on Friday, reaching $82.33. The stock had a trading volume of 2,884,754 shares, compared to its average volume of 3,236,812. The firm has a market cap of $51.43 billion, a PE ratio of 17.22, a P/E/G ratio of 3.77 and a beta of 1.01. The firm has a 50 day simple moving average of $89.33 and a 200-day simple moving average of $98.16. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). The business 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 quarter in the previous year, the business posted $1.09 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.00%. The ex-dividend date is Monday, May 5th. ONEOK's dividend payout ratio 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.