Capital A Wealth Management LLC Makes New $391,000 Investment in ONEOK, Inc. (NYSE:OKE)

Capital A Wealth Management LLC bought a new position in ONEOK, Inc. (NYSE:OKE - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,899 shares of the utilities provider's stock, valued at approximately $391,000.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in ONEOK by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider's stock worth $7,040,075,000 after purchasing an additional 558,789 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in ONEOK by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider's stock worth $1,848,844,000 after purchasing an additional 934,007 shares in the last quarter. Geode Capital Management LLC raised its holdings in ONEOK by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider's stock worth $1,405,697,000 after purchasing an additional 357,015 shares in the last quarter. Northern Trust Corp raised its holdings in ONEOK by 15.2% in the fourth quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider's stock worth $656,200,000 after purchasing an additional 864,392 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of ONEOK during the fourth quarter valued at about $539,554,000. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on OKE. Wells Fargo & Company dropped their price objective 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. Citigroup dropped their price objective on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Scotiabank dropped their price objective on shares of ONEOK from $100.00 to $96.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, May 20th. US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley increased their target price on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $104.69.

ONEOK Stock Down 0.1%

Shares of OKE traded down $0.06 during midday trading on Friday, hitting $80.62. The stock had a trading volume of 8,053,036 shares, compared to its average volume of 3,312,071. The company has a 50 day simple moving average of $85.25 and a two-hundred day simple moving average of $96.35. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. The firm has a market cap of $50.36 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01. 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 released its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the prior year, the firm posted $1.09 EPS. On average, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK's dividend payout ratio is currently 80.47%.

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.