Pinion Investment Advisors LLC Buys 2,263 Shares of ONEOK, Inc. (NYSE:OKE)

Pinion Investment Advisors LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 25.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,076 shares of the utilities provider’s stock after purchasing an additional 2,263 shares during the period. Pinion Investment Advisors LLC’s holdings in ONEOK were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in OKE. Astoria Portfolio Advisors LLC. increased its position in ONEOK by 4.1% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock valued at $260,000 after buying an additional 96 shares in the last quarter. McAdam LLC raised its position in shares of ONEOK by 3.8% during the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 96 shares during the period. Alliance Wealth Advisors LLC lifted its holdings in shares of ONEOK by 0.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after purchasing an additional 100 shares in the last quarter. Mutual Advisors LLC grew its position in ONEOK by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after purchasing an additional 103 shares during the period. Finally, Morton Capital Management LLC CA raised its holdings in ONEOK by 1.4% during the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after buying an additional 104 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 3.8 %

ONEOK stock opened at $96.57 on Tuesday. The firm has a 50 day moving average price of $100.83 and a 200-day moving average price of $99.35. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a twelve month low of $75.69 and a twelve month high of $118.07. The company has a market capitalization of $60.29 billion, a P/E ratio of 20.20, a P/E/G ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.27%. ONEOK’s dividend payout ratio is 79.69%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on OKE shares. Scotiabank initiated coverage on shares of ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective for the company. Barclays assumed coverage on ONEOK in a research note on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price target for the company. UBS Group increased their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company cut their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, Citigroup started coverage on ONEOK in a report on Friday. They set a “buy” rating and a $110.00 price target for the company. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $104.15.

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.