GKV Capital Management Co. Inc. Buys Shares of 53,606 ONEOK, Inc. (NYSE:OKE)

GKV Capital Management Co. Inc. purchased 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 purchased 53,606 shares of the utilities provider's stock, valued at approximately $5,382,000. ONEOK accounts for 2.2% of GKV Capital Management Co. Inc.'s portfolio, making the stock its 10th biggest position.

A number of other large investors have also added to or reduced their stakes in OKE. Capital Square LLC increased its holdings in ONEOK by 5.1% during the fourth quarter. Capital Square LLC now owns 3,270 shares of the utilities provider's stock valued at $342,000 after buying an additional 160 shares during the last quarter. Farringdon Capital Ltd. purchased a new position in ONEOK during the fourth quarter valued at $1,399,000. Marshall Wace LLP grew its holdings in ONEOK by 276.4% during the fourth quarter. Marshall Wace LLP now owns 971,913 shares of the utilities provider's stock valued at $97,580,000 after purchasing an additional 713,685 shares during the period. Jump Financial LLC purchased a new stake in ONEOK in the fourth quarter worth about $1,942,000. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of ONEOK in the fourth quarter worth about $971,000. Institutional investors own 69.13% of the company's stock.

ONEOK Trading Up 2.9 %

Shares of OKE traded up $2.39 during midday trading on Tuesday, hitting $84.21. The stock had a trading volume of 858,498 shares, compared to its average volume of 3,152,750. The firm has a market cap of $52.60 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The stock's 50 day moving average is $93.07 and its 200 day moving average is $99.31. 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 posted its quarterly earnings data 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 company had revenue of $7 billion during the quarter, compared to analysts' expectations of $6.18 billion. As a group, analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK's previous quarterly dividend of $0.99. ONEOK's payout ratio is currently 79.69%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OKE. Wells Fargo & Company reduced their target price 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. Scotiabank dropped their target price 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. Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a report on Monday, February 10th. Morgan Stanley increased their target price on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Finally, Citigroup began coverage on shares of ONEOK in a research report on Friday, February 28th. They set a "buy" rating and a $110.00 price objective on the stock. Seven 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $106.42.

ONEOK Company 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.