Register Financial Advisors LLC Acquires Shares of 2,859 ONEOK, Inc. (NYSE:OKE)

Register Financial Advisors LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the first quarter, according to its most recent filing with the SEC. The fund bought 2,859 shares of the utilities provider’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in ONEOK by 10.3% in the third quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after acquiring an additional 5,525,010 shares during the period. Norges Bank bought a new stake in shares of ONEOK in the 4th quarter worth approximately $297,948,000. Deutsche Bank AG lifted its stake in ONEOK by 37.7% in the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock valued at $843,133,000 after purchasing an additional 3,636,660 shares during the last quarter. Blackstone Inc. grew its holdings in ONEOK by 3,478.3% during the third quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider’s stock valued at $226,973,000 after purchasing an additional 3,478,316 shares during the period. Finally, International Assets Investment Management LLC increased its position in ONEOK by 5,247.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,463,929 shares of the utilities provider’s stock worth $173,017,000 after buying an additional 2,417,849 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on OKE. Citigroup upped their price target on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Wells Fargo & Company increased their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Morgan Stanley lifted their target price on shares of ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, June 10th. JPMorgan Chase & Co. upped their price target on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday. 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 investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $84.50.

ONEOK Price Performance

ONEOK stock opened at $81.55 on Friday. The business has a 50-day simple moving average of $80.15 and a 200 day simple moving average of $75.75. ONEOK, Inc. has a 52 week low of $60.52 and a 52 week high of $83.31. The stock has a market cap of $47.60 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 4.33 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 (NYSE:OKE) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. The company had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same quarter in the previous year, the firm earned $2.34 earnings per share. On average, research analysts forecast that ONEOK, Inc. will post 4.94 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.86%. The ex-dividend date was Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) 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.