Northeast Investment Management Raises Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Northeast Investment Management increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,013 shares of the utilities provider’s stock after purchasing an additional 308 shares during the quarter. Northeast Investment Management’s holdings in ONEOK were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. raised its position in shares of ONEOK by 4.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock valued at $260,000 after buying an additional 96 shares during the last quarter. McAdam LLC grew its stake in ONEOK by 3.8% in the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after acquiring an additional 96 shares during the period. Mutual Advisors LLC raised its holdings in ONEOK by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after acquiring an additional 103 shares during the last quarter. Morton Capital Management LLC CA lifted its stake in shares of ONEOK by 1.4% during the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after purchasing an additional 104 shares during the period. Finally, HM Payson & Co. boosted its holdings in shares of ONEOK by 6.3% during the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after purchasing an additional 105 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 0.1 %

Shares of ONEOK stock opened at $95.75 on Friday. 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 capitalization of $55.94 billion, a P/E ratio of 20.03, a PEG ratio of 3.67 and a beta of 1.70. The business’s fifty day moving average price is $102.92 and its two-hundred day moving average price is $97.49. ONEOK, Inc. has a 1-year low of $68.21 and a 1-year high of $118.07.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.30%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is presently 86.19%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OKE. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Barclays started coverage on shares of ONEOK in a research report on Thursday. They issued an “equal weight” rating and a $105.00 target price on the stock. Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Bank of America began coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. Finally, Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a report on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.42.

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.