Brookstone Capital Management Raises Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Brookstone Capital Management boosted its stake in ONEOK, Inc. (NYSE:OKE) by 94.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,758 shares of the utilities provider’s stock after purchasing an additional 18,300 shares during the quarter. Brookstone Capital Management’s holdings in ONEOK were worth $3,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after buying an additional 3,197,121 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after acquiring an additional 661,854 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in ONEOK during the third quarter valued at about $47,957,000. Yaupon Capital Management LP bought a new stake in ONEOK during the third quarter worth about $45,194,000. Finally, National Bank of Canada FI boosted its holdings in shares of ONEOK by 199.9% in the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock worth $63,605,000 after purchasing an additional 465,243 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Scotiabank started coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. Bank of America started coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price on the stock. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research note on Wednesday, December 18th. Finally, UBS Group raised their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $101.54.

ONEOK Trading Up 2.0 %

OKE opened at $106.01 on Wednesday. The firm has a market capitalization of $61.93 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 5.24 and a beta of 1.70. ONEOK, Inc. has a one year low of $67.05 and a one year high of $118.07. The business has a 50 day simple moving average of $105.95 and a two-hundred day simple moving average of $95.28. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the prior year, the company earned $0.99 EPS. Analysts predict that ONEOK, Inc. will post 5.1 EPS for the current year.

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.