Fairview Capital Investment Management LLC Acquires 309 Shares of ONEOK, Inc. (NYSE:OKE)

Fairview Capital Investment Management LLC lifted its stake in ONEOK, Inc. (NYSE:OKE) by 0.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 219,351 shares of the utilities provider’s stock after buying an additional 309 shares during the quarter. ONEOK makes up about 1.1% of Fairview Capital Investment Management LLC’s investment portfolio, making the stock its 26th largest position. Fairview Capital Investment Management LLC’s holdings in ONEOK were worth $22,023,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Kieckhefer Group LLC purchased a new stake in shares of ONEOK in the fourth quarter valued at $30,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of ONEOK in the 4th quarter worth $39,000. Canton Hathaway LLC bought a new position in ONEOK during the 4th quarter worth about $40,000. J.Safra Asset Management Corp purchased a new position in ONEOK during the fourth quarter valued at approximately $48,000. Finally, VSM Wealth Advisory LLC purchased a new position in shares of ONEOK in the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE OKE opened at $82.23 on Friday. The company’s fifty day moving average is $89.33 and its two-hundred day moving average is $98.16. 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 firm has a market capitalization of $51.37 billion, a P/E ratio of 17.20, a PEG ratio of 3.77 and a beta of 1.01. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07.

ONEOK (NYSE:OKE) last posted its earnings results 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). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period last year, the company posted $1.09 EPS. Analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.01%. The ex-dividend date is Monday, May 5th. ONEOK’s dividend payout ratio (DPR) is 80.47%.

Analyst Ratings Changes

Several research firms recently commented on OKE. Scotiabank reduced their price objective on shares of ONEOK from $101.00 to $100.00 and set a “sector outperform” rating for the company in a research note on Tuesday, April 29th. Wolfe Research upgraded 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. Morgan Stanley lifted their price target on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Stifel Nicolaus decreased their price objective on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, Citigroup lowered their target price on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $105.00.

ONEOK 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.