Farringdon Capital Ltd. Buys Shares of 13,939 ONEOK, Inc. (NYSE:OKE)

Farringdon Capital Ltd. purchased a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,939 shares of the utilities provider's stock, valued at approximately $1,399,000. ONEOK accounts for 0.6% of Farringdon Capital Ltd.'s investment portfolio, making the stock its 26th biggest position.

Several other institutional investors also recently modified their holdings of the stock. FNY Investment Advisers LLC grew its holdings in shares of ONEOK by 14,279.1% in the 4th 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 stake in ONEOK by 57.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider's stock valued at $1,456,000 after acquiring an additional 5,321 shares during the last quarter. Simon Quick Advisors LLC acquired a new position in shares of ONEOK during the 4th quarter worth about $251,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of ONEOK by 9.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider's stock valued at $155,038,000 after purchasing an additional 136,071 shares during the period. Finally, Contravisory Investment Management Inc. bought a new stake in ONEOK in the fourth quarter valued at approximately $9,483,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Up 2.7 %

OKE stock traded up $2.23 on Tuesday, reaching $84.05. The company's stock had a trading volume of 783,798 shares, compared to its average volume of 3,152,432. The business has a fifty day simple moving average of $93.07 and a two-hundred day simple moving average of $99.31. The firm has a market cap of $52.50 billion, a PE ratio of 17.61, 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 12-month low of $75.48 and a 12-month high of $118.07.

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

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This is an increase from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.90%. ONEOK's dividend payout ratio (DPR) is presently 79.69%.

Analysts Set New Price Targets

A number of research firms have commented on OKE. Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a research report on Monday, February 10th. Wells Fargo & Company lowered their target price on ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Scotiabank lowered their price target on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company in a report on Thursday, March 6th. US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Finally, Barclays reduced their target price on ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research note on Friday, March 7th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $106.42.

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.