Annandale Capital LLC Acquires Shares of 2,045 ONEOK, Inc. (NYSE:OKE)

Annandale Capital LLC acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the fourth quarter, HoldingsChannel reports. The fund acquired 2,045 shares of the utilities provider’s stock, valued at approximately $205,000.

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

ONEOK Price Performance

Shares of OKE opened at $80.73 on Friday. The company has a 50 day moving average of $97.08 and a 200-day moving average of $100.22. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock 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.

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

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is presently 79.69%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Morgan Stanley upped their price target on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Monday, February 10th. Citigroup initiated coverage on ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 price target on the stock. Finally, Scotiabank cut their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Seven equities research 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’s stock. Based on data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

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.