Northstar Advisory Group LLC Purchases 491 Shares of ONEOK, Inc. (NYSE:OKE)

Northstar Advisory Group LLC increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 10.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,979 shares of the utilities provider’s stock after purchasing an additional 491 shares during the period. Northstar Advisory Group LLC’s holdings in ONEOK were worth $494,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Merit Financial Group LLC grew its stake in shares of ONEOK by 11.4% during the first quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider’s stock valued at $1,142,000 after buying an additional 1,180 shares during the last quarter. Cinctive Capital Management LP bought a new position in ONEOK in the 4th quarter valued at $19,909,000. Americana Partners LLC increased its stake in ONEOK by 258.6% in the fourth quarter. Americana Partners LLC now owns 271,836 shares of the utilities provider’s stock worth $27,292,000 after purchasing an additional 196,038 shares during the period. Cbre Investment Management Listed Real Assets LLC bought a new stake in shares of ONEOK during the fourth quarter worth $34,360,000. Finally, Dynamic Technology Lab Private Ltd grew its holdings in shares of ONEOK by 41.8% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 15,399 shares of the utilities provider’s stock worth $1,546,000 after purchasing an additional 4,538 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Price Performance

Shares of OKE stock opened at $81.70 on Monday. The stock’s 50-day moving average is $83.49 and its 200 day moving average is $95.10. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market cap of $51.03 billion, a P/E ratio of 17.09, a PEG ratio of 3.77 and a beta of 0.94.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS 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 for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the previous year, the company posted $1.09 earnings per share. Research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a dividend of $1.03 per share. The ex-dividend date was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a yield of 5.04%. ONEOK’s payout ratio is 80.47%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OKE. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Barclays lowered their price target on ONEOK from $101.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, June 3rd. Citigroup reduced their price objective on ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company dropped their price target on ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Finally, Morgan Stanley lifted their price objective on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $103.69.

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.