Fairview Capital Investment Management LLC Has $22.02 Million Position in ONEOK, Inc. (NYSE:OKE)

Fairview Capital Investment Management LLC increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 0.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 219,351 shares of the utilities provider’s stock after purchasing an additional 309 shares during the period. ONEOK makes up about 1.1% of Fairview Capital Investment Management LLC’s portfolio, making the stock its 26th biggest holding. Fairview Capital Investment Management LLC’s holdings in ONEOK were worth $22,023,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. FNY Investment Advisers LLC increased its holdings in shares of ONEOK by 14,279.1% during the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after buying an additional 21,847 shares in the last quarter. Kingswood Wealth Advisors LLC increased its holdings in ONEOK by 57.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after purchasing an additional 5,321 shares in the last quarter. Simon Quick Advisors LLC acquired a new position in ONEOK in the 4th quarter worth about $251,000. Sumitomo Mitsui Trust Group Inc. raised its position in ONEOK by 9.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider’s stock valued at $155,038,000 after purchasing an additional 136,071 shares during the last quarter. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of ONEOK during the fourth quarter valued at about $9,483,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays dropped their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Wells Fargo & Company dropped their price target on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Citigroup reduced their price objective on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a research note on Tuesday. Stifel Nicolaus lowered their target price on ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.00.

ONEOK Trading Up 2.5 %

NYSE OKE opened at $82.23 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07. The stock has a market cap of $51.37 billion, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01. The stock has a 50 day simple moving average of $89.33 and a two-hundred day simple moving average of $98.16.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the previous year, the company earned $1.09 earnings per share. On average, analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.01%. ONEOK’s dividend payout ratio (DPR) is presently 80.47%.

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.