Catalyst Capital Advisors LLC Boosts Stock Position in ONEOK, Inc. (NYSE:OKE)

by · The Markets Daily

Catalyst Capital Advisors LLC increased its position in ONEOK, Inc. (NYSE:OKE – Free Report) by 144.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 367,433 shares of the utilities provider’s stock after acquiring an additional 217,001 shares during the quarter. ONEOK comprises approximately 0.7% of Catalyst Capital Advisors LLC’s holdings, making the stock its 26th biggest position. Catalyst Capital Advisors LLC’s holdings in ONEOK were worth $36,457,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after purchasing an additional 8,834 shares during the period. Proficio Capital Partners LLC bought a new stake in ONEOK during the fourth quarter valued at about $258,000. Fisher Asset Management LLC lifted its position in shares of ONEOK by 103.6% in the fourth quarter. Fisher Asset Management LLC now owns 13,926 shares of the utilities provider’s stock valued at $1,398,000 after acquiring an additional 7,087 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of ONEOK by 115.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,167 shares of the utilities provider’s stock worth $117,000 after acquiring an additional 626 shares during the period. Finally, Triad Wealth Partners LLC purchased a new stake in shares of ONEOK during the fourth quarter worth about $235,000. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OKE. Citigroup lowered their price target on ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Barclays reduced their price objective on shares of ONEOK from $101.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. upped their target price on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday. Wells Fargo & Company reduced their price target on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Finally, Morgan Stanley boosted their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $104.08.

Read Our Latest Analysis on OKE

ONEOK Stock Performance

ONEOK stock opened at $81.73 on Friday. The company’s 50-day moving average price is $82.36 and its 200-day moving average price is $91.68. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The company has a market cap of $51.45 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 1.61 and a beta of 0.93. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07.

ONEOK (NYSE:OKE – Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 15.58% and a net margin of 12.15%. During the same period in the previous year, the firm earned $1.09 earnings per share. On average, equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.04%. ONEOK’s dividend payout ratio (DPR) is presently 80.47%.

About ONEOK

(Free Report)

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.

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