Burling Wealth Partners LLC Makes New $3.18 Million Investment in ONEOK, Inc. (NYSE:OKE)

Burling Wealth Partners LLC acquired a new position in ONEOK, Inc. (NYSE:OKE - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 31,643 shares of the utilities provider's stock, valued at approximately $3,177,000.

Several other large investors have also made changes to their positions in OKE. FNY Investment Advisers LLC lifted its stake in shares of ONEOK by 14,279.1% in the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider's stock valued at $2,208,000 after buying an additional 21,847 shares during the period. Kingswood Wealth Advisors LLC lifted its position in shares of ONEOK by 57.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider's stock worth $1,456,000 after acquiring an additional 5,321 shares during the period. Simon Quick Advisors LLC acquired a new position in shares of ONEOK in the fourth quarter valued at $251,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in ONEOK by 9.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider's stock worth $155,038,000 after buying an additional 136,071 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new stake in ONEOK in the 4th quarter valued at $9,483,000. Institutional investors and hedge funds own 69.13% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup assumed coverage on shares of ONEOK in a report on Friday, February 28th. They set a "buy" rating and a $110.00 price objective for the company. Scotiabank cut their price objective on ONEOK from $101.00 to $100.00 and set a "sector outperform" rating for the company in a report on Tuesday. Wells Fargo & Company cut their price target on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Finally, Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $106.25.

ONEOK Stock Down 0.1 %

OKE stock traded down $0.13 during trading hours on Tuesday, reaching $87.74. 1,283,029 shares of the stock were exchanged, compared to its average volume of 3,177,499. The firm's 50-day moving average is $91.81 and its 200-day moving average is $98.99. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The company has a market cap of $54.80 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 3.77 and a beta of 1.20. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. On average, equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

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 given a dividend of $1.03 per share. The ex-dividend date is Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 4.70%. ONEOK's dividend payout ratio (DPR) 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.