Mosley Wealth Management Purchases Shares of 2,865 ONEOK, Inc. (NYSE:OKE)

Mosley Wealth Management acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,865 shares of the utilities provider’s stock, valued at approximately $234,000.

A number of other hedge funds and other institutional investors have also modified their holdings of OKE. Hilltop Holdings Inc. increased its stake in shares of ONEOK by 7.3% during the fourth quarter. Hilltop Holdings Inc. now owns 16,525 shares of the utilities provider’s stock valued at $1,160,000 after acquiring an additional 1,124 shares during the period. TD Asset Management Inc raised its stake in shares of ONEOK by 11.6% in the 4th quarter. TD Asset Management Inc now owns 208,063 shares of the utilities provider’s stock worth $14,610,000 after buying an additional 21,657 shares in the last quarter. Norden Group LLC lifted its holdings in shares of ONEOK by 4,460.2% in the first quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock valued at $10,773,000 after buying an additional 131,441 shares during the period. Wellington Management Group LLP lifted its holdings in shares of ONEOK by 2,643.5% in the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock valued at $82,209,000 after buying an additional 1,128,066 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its stake in ONEOK by 8.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 121,195 shares of the utilities provider’s stock valued at $8,510,000 after buying an additional 9,722 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on OKE shares. Scotiabank boosted their price target on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Morgan Stanley increased their target price on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. Mizuho increased their price objective on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Citigroup upped their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Royal Bank of Canada increased their price target on ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $89.92.

ONEOK Stock Down 0.8 %

OKE traded down $0.75 on Friday, reaching $91.06. 3,207,326 shares of the company traded hands, compared to its average volume of 2,767,778. ONEOK, Inc. has a 52-week low of $60.58 and a 52-week high of $93.00. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The company has a market cap of $53.15 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 3.66 and a beta of 1.67. The stock’s 50 day moving average price is $85.25 and its 200-day moving average price is $81.13.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the firm earned $1.04 earnings per share. On average, sell-side analysts expect that ONEOK, Inc. will post 5.05 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

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.