ONEOK, Inc. (NYSE:OKE) Shares Purchased by Advisory Alpha LLC

Advisory Alpha LLC boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 10.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,993 shares of the utilities provider’s stock after acquiring an additional 364 shares during the period. Advisory Alpha LLC’s holdings in ONEOK were worth $326,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in OKE. Caxton Associates LP purchased a new position in ONEOK in the 2nd quarter valued at $1,225,000. Point72 Europe London LLP purchased a new position in shares of ONEOK in the second quarter worth about $15,008,000. Norden Group LLC boosted its position in ONEOK by 4,460.2% during the first quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock worth $10,773,000 after acquiring an additional 131,441 shares during the last quarter. NewEdge Advisors LLC grew its stake in ONEOK by 61.0% during the 2nd quarter. NewEdge Advisors LLC now owns 145,132 shares of the utilities provider’s stock valued at $11,836,000 after acquiring an additional 54,978 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of ONEOK by 2,643.5% during the 4th quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock worth $82,209,000 after purchasing an additional 1,128,066 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OKE. JPMorgan Chase & Co. lifted their price objective on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Barclays boosted their price target on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. Mizuho raised their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Royal Bank of Canada boosted their target price on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. Finally, Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $103.00 to $111.00 in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, ONEOK currently has an average rating of “Hold” and a consensus price target of $92.38.

ONEOK Stock Up 1.2 %

ONEOK stock opened at $93.40 on Thursday. The firm has a market capitalization of $54.55 billion, a P/E ratio of 21.72, a P/E/G ratio of 4.46 and a beta of 1.67. The stock’s fifty day simple moving average is $88.63 and its 200-day simple moving average is $83.32. ONEOK, Inc. has a twelve month low of $60.58 and a twelve month high of $96.05. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the company earned $1.04 EPS. As a group, equities analysts expect that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.24%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

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.