Morey & Quinn Wealth Partners LLC Takes Position in ONEOK, Inc. (NYSE:OKE)

Morey & Quinn Wealth Partners LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,592 shares of the utilities provider’s stock, valued at approximately $1,565,000. ONEOK accounts for about 1.3% of Morey & Quinn Wealth Partners LLC’s holdings, making the stock its 16th largest holding.

A number of other institutional investors also recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new stake in ONEOK in the fourth quarter valued at $30,000. Canton Hathaway LLC acquired a new position in ONEOK during the 4th quarter worth approximately $40,000. J.Safra Asset Management Corp purchased a new position in ONEOK in the fourth quarter worth $48,000. VSM Wealth Advisory LLC acquired a new position in ONEOK during the fourth quarter worth about $50,000. Finally, OFI Invest Asset Management purchased a new position in ONEOK in the 4th quarter valued at approximately $51,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 0.1 %

NYSE:OKE opened at $102.42 on Wednesday. The company has a market cap of $63.94 billion, a price-to-earnings ratio of 21.43, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. 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 stock’s fifty day moving average price is $98.84 and its two-hundred day moving average price is $100.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.02%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 79.69%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company reduced their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Scotiabank decreased their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Barclays decreased their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Finally, Morgan Stanley boosted their target price on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.00.

About ONEOK

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.