KCM Investment Advisors LLC Boosts Stock Holdings in ONEOK, Inc. (NYSE:OKE)

KCM Investment Advisors LLC grew its position in ONEOK, Inc. (NYSE:OKE) by 90.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,743 shares of the utilities provider’s stock after acquiring an additional 2,256 shares during the quarter. KCM Investment Advisors LLC’s holdings in ONEOK were worth $476,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kieckhefer Group LLC purchased a new position in ONEOK in the 4th quarter valued at $30,000. Canton Hathaway LLC purchased a new position in shares of ONEOK in the fourth quarter worth about $40,000. J.Safra Asset Management Corp acquired a new position in ONEOK during the fourth quarter worth about $48,000. VSM Wealth Advisory LLC purchased a new stake in ONEOK during the 4th quarter valued at about $50,000. Finally, OFI Invest Asset Management acquired a new stake in ONEOK in the 4th quarter valued at about $51,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Down 12.9 %

Shares of ONEOK stock opened at $80.73 on Monday. 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 52-week low of $76.23 and a 52-week high of $118.07. The company has a market capitalization of $50.40 billion, a P/E ratio of 16.89, a P/E/G ratio of 3.77 and a beta of 1.20. The company has a 50 day moving average of $97.08 and a 200 day moving average of $100.30.

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

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on OKE. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Barclays dropped their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Citigroup assumed coverage on ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 price target on the stock. Morgan Stanley upped their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Finally, Wells Fargo & Company reduced their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ONEOK presently has a consensus 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.