Occudo Quantitative Strategies LP Purchases 29,443 Shares of ONEOK, Inc. (NYSE:OKE)

Occudo Quantitative Strategies LP boosted its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 313.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 38,848 shares of the utilities provider's stock after purchasing an additional 29,443 shares during the period. ONEOK comprises 0.7% of Occudo Quantitative Strategies LP's investment portfolio, making the stock its 16th biggest position. Occudo Quantitative Strategies LP's holdings in ONEOK were worth $3,900,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Kieckhefer Group LLC bought a new position in shares of ONEOK during the 4th quarter valued at approximately $30,000. Greenline Partners LLC purchased a new stake in ONEOK in the 4th quarter worth about $32,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of ONEOK in the fourth quarter valued at approximately $39,000. Canton Hathaway LLC bought a new position in shares of ONEOK in the fourth quarter worth $40,000. Finally, J.Safra Asset Management Corp purchased a new position in ONEOK during the 4th quarter valued at about $48,000. Institutional investors own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of recent analyst reports. US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Morgan Stanley lifted their price objective on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Barclays decreased their target price on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company dropped their price target on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $105.00.

ONEOK Trading Down 0.3%

Shares of NYSE OKE traded down $0.30 during trading hours on Friday, hitting $85.74. The company's stock had a trading volume of 2,820,604 shares, compared to its average volume of 3,263,670. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The stock has a market cap of $53.55 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 3.77 and a beta of 1.01. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The business has a 50-day simple moving average of $88.73 and a 200-day simple moving average of $97.76.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). The business had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $8.23 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period last year, the firm posted $1.09 earnings per share. On average, analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders 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 4.81%. The ex-dividend date was Monday, May 5th. ONEOK's dividend payout ratio is presently 80.47%.

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.