ONEOK, Inc. (NYSE:OKE) Shares Purchased by MGB Wealth Management LLC

MGB Wealth Management LLC raised its position in ONEOK, Inc. (NYSE:OKE) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,500 shares of the utilities provider’s stock after acquiring an additional 2,600 shares during the quarter. ONEOK accounts for about 1.2% of MGB Wealth Management LLC’s investment portfolio, making the stock its 16th largest holding. MGB Wealth Management LLC’s holdings in ONEOK were worth $2,925,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in OKE. Kayne Anderson Capital Advisors LP grew its stake in ONEOK by 28.7% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after purchasing an additional 825,464 shares in the last quarter. Manchester Capital Management LLC grew its position in shares of ONEOK by 66.4% during the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after buying an additional 182 shares in the last quarter. Oxbow Advisors LLC grew its position in shares of ONEOK by 6.5% during the first quarter. Oxbow Advisors LLC now owns 12,283 shares of the utilities provider’s stock worth $985,000 after buying an additional 755 shares in the last quarter. Advisory Alpha LLC bought a new stake in shares of ONEOK in the first quarter worth $291,000. Finally, SPC Financial Inc. raised its holdings in ONEOK by 1.2% in the first quarter. SPC Financial Inc. now owns 31,188 shares of the utilities provider’s stock valued at $2,500,000 after acquiring an additional 362 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Mizuho boosted their target price on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. JPMorgan Chase & Co. upped their price objective on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Wells Fargo & Company boosted their price target on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Morgan Stanley raised their price objective on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, June 10th. Finally, US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $84.50.

ONEOK Stock Performance

OKE stock traded up $1.37 during trading on Friday, reaching $84.27. 540,558 shares of the company’s stock were exchanged, compared to its average volume of 2,757,540. The firm has a market cap of $49.18 billion, a PE ratio of 19.28, a P/E/G ratio of 4.41 and a beta of 1.65. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $84.36. The company’s fifty day moving average price is $80.62 and its 200-day moving average price is $76.62.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the prior year, the firm posted $2.34 EPS. On average, research analysts expect that ONEOK, Inc. will post 4.95 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 4.70%. ONEOK’s dividend payout ratio is currently 92.09%.

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.