Northstar Advisory Group LLC Grows Stock Position in ONEOK, Inc. (NYSE:OKE)

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

Several other large investors also recently added to or reduced their stakes in the business. LaFleur & Godfrey LLC purchased a new stake in shares of ONEOK in the 4th quarter worth $931,000. Brighton Jones LLC increased its position in ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after buying an additional 8,834 shares in the last quarter. Stratos Wealth Advisors LLC raised its stake in shares of ONEOK by 7.3% in the fourth quarter. Stratos Wealth Advisors LLC now owns 3,052 shares of the utilities provider’s stock worth $306,000 after buying an additional 208 shares during the period. Bleakley Financial Group LLC lifted its position in shares of ONEOK by 4.1% during the 4th quarter. Bleakley Financial Group LLC now owns 12,393 shares of the utilities provider’s stock valued at $1,244,000 after buying an additional 492 shares in the last quarter. Finally, Shepherd Financial Partners LLC purchased a new position in shares of ONEOK during the 4th quarter valued at about $219,000. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Monday, February 10th. Stifel Nicolaus decreased their price objective on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Barclays lowered their target price on shares of ONEOK from $101.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 3rd. Wells Fargo & Company cut their price target on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Finally, Scotiabank decreased their price target on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating on the stock in a report on Thursday. Six 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $103.69.

ONEOK Price Performance

OKE stock opened at $81.70 on Monday. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The firm has a market capitalization of $51.03 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 3.77 and a beta of 0.94. The company has a fifty day simple moving average of $83.49 and a two-hundred day simple moving average of $95.10. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the business posted $1.09 EPS. Analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

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.