LifeWealth Investments LLC Makes New Investment in ONEOK, Inc. (NYSE:OKE)

LifeWealth Investments LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,467 shares of the utilities provider's stock, valued at approximately $348,000.

Several other hedge funds have also added to or reduced their stakes in the company. Greenline Partners LLC bought a new position in shares of ONEOK during the 4th quarter valued at about $32,000. Vermillion Wealth Management Inc. acquired a new position in shares of ONEOK during the 4th quarter worth approximately $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of ONEOK during the 4th quarter worth approximately $39,000. Canton Hathaway LLC acquired a new position in shares of ONEOK during the 4th quarter worth approximately $40,000. Finally, J.Safra Asset Management Corp acquired a new position in shares of ONEOK during the 4th quarter worth approximately $48,000. Institutional investors own 69.13% of the company's stock.

Wall Street Analyst Weigh In

OKE has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a report on Monday, February 10th. US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Scotiabank decreased their target price on ONEOK from $100.00 to $96.00 and set a "sector outperform" rating on the stock in a report on Tuesday, May 20th. Finally, Barclays decreased their target price on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $104.69.

ONEOK Trading Down 0.1%

Shares of ONEOK stock traded down $0.06 on Friday, hitting $80.62. 8,053,036 shares of the company's stock traded hands, compared to its average volume of 3,312,071. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07. 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 company has a fifty day moving average of $85.25 and a two-hundred day moving average of $96.35. The company has a market capitalization 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.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period last year, the business posted $1.09 EPS. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

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