Starfire Investment Advisers Inc. purchased a new stake in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 39,388 shares of the utilities provider’s stock, valued at approximately $2,105,000. ONEOK accounts for about 1.7% of Starfire Investment Advisers Inc.’s investment portfolio, making the stock its 16th biggest holding.
A number of other institutional investors and hedge funds have also recently bought and sold shares of OKE. Ropes Wealth Advisors LLC purchased a new position in ONEOK during the 2nd quarter worth $103,000. Winslow Evans & Crocker Inc. raised its stake in shares of ONEOK by 462.9% during the 3rd quarter. Winslow Evans & Crocker Inc. now owns 1,970 shares of the utilities provider’s stock worth $109,000 after purchasing an additional 1,620 shares during the period. Mercer Capital Advisers Inc. raised its stake in shares of ONEOK by 229.8% during the 3rd quarter. Mercer Capital Advisers Inc. now owns 1,979 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 1,379 shares during the period. Enterprise Financial Services Corp raised its stake in shares of ONEOK by 332.8% during the 3rd quarter. Enterprise Financial Services Corp now owns 2,268 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 1,744 shares during the period. Finally, Fieldpoint Private Securities LLC bought a new stake in shares of ONEOK during the 3rd quarter worth $150,000. 66.30% of the stock is currently owned by hedge funds and other institutional investors.
ONEOK, Inc. (NYSE:OKE) opened at $57.75 on Friday. ONEOK, Inc. has a twelve month low of $47.14 and a twelve month high of $61.36. The stock has a market capitalization of $23,704.99, a price-to-earnings ratio of 36.09, a price-to-earnings-growth ratio of 1.83 and a beta of 1.26. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.47.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Monday, January 29th will be paid a $0.77 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date of this dividend is Friday, January 26th. ONEOK’s dividend payout ratio is currently 192.50%.
In related news, Director Brian L. Derksen bought 1,800 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were purchased at an average cost of $51.00 per share, with a total value of $91,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.
A number of brokerages recently issued reports on OKE. Mizuho restated a “hold” rating and issued a $61.00 price objective on shares of ONEOK in a research note on Tuesday, January 23rd. Royal Bank of Canada upgraded ONEOK from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, January 16th. BMO Capital Markets reissued a “buy” rating and set a $64.00 price objective on shares of ONEOK in a report on Tuesday, January 16th. Barclays raised ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $58.00 to $67.00 in a report on Wednesday, January 17th. Finally, Credit Suisse Group initiated coverage on ONEOK in a report on Monday, January 8th. They set an “outperform” rating and a $62.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. ONEOK currently has a consensus rating of “Buy” and a consensus target price of $60.07.
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ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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