Mill Creek Capital Advisors LLC Buys New Stake in ONEOK, Inc. (NYSE:OKE)

Mill Creek Capital Advisors LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 6,121 shares of the utilities provider’s stock, valued at approximately $615,000.

Other hedge funds also recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new position in ONEOK in the 4th quarter worth approximately $30,000. Access Investment Management LLC acquired a new position in ONEOK in the 3rd quarter worth $37,000. Values First Advisors Inc. acquired a new stake in shares of ONEOK during the third quarter valued at about $44,000. Fortitude Family Office LLC increased its position in shares of ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 135 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 260 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Royal Bank of Canada increased their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. UBS Group lifted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Scotiabank began coverage on shares of ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price for the company. Finally, Barclays began coverage on ONEOK in a research report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 target price on the stock. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Price Performance

Shares of NYSE:OKE opened at $98.65 on Tuesday. 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 company has a market capitalization of $57.63 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70. The stock has a fifty day moving average of $102.92 and a 200-day moving average of $97.70. ONEOK, Inc. has a one year low of $68.65 and a one year high of $118.07.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.18%. The ex-dividend date is Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is presently 86.19%.

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.