AdvisorNet Financial Inc Increases Stock Holdings in ONEOK, Inc. (NYSE:OKE)

AdvisorNet Financial Inc raised its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 14.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,132 shares of the utilities provider's stock after purchasing an additional 4,375 shares during the period. AdvisorNet Financial Inc's holdings in ONEOK were worth $3,387,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of OKE. LaFleur & Godfrey LLC acquired a new position in ONEOK in the 4th quarter valued at approximately $931,000. Brighton Jones LLC boosted its stake in ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock worth $1,534,000 after acquiring an additional 8,834 shares in the last quarter. Blue Trust Inc. boosted its stake in ONEOK by 17.2% during the fourth quarter. Blue Trust Inc. now owns 6,844 shares of the utilities provider's stock worth $687,000 after acquiring an additional 1,006 shares in the last quarter. KBC Group NV lifted its stake in shares of ONEOK by 7.0% in the fourth quarter. KBC Group NV now owns 48,556 shares of the utilities provider's stock valued at $4,875,000 after buying an additional 3,173 shares in the last quarter. Finally, Foundations Investment Advisors LLC grew its position in ONEOK by 7.8% in the 4th quarter. Foundations Investment Advisors LLC now owns 8,258 shares of the utilities provider's stock worth $829,000 after purchasing an additional 598 shares in the last quarter. Institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

NYSE:OKE traded up $1.02 during midday trading on Tuesday, hitting $83.53. The company had a trading volume of 1,062,452 shares, compared to its average volume of 3,299,141. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. The stock's fifty day moving average price is $84.88 and its 200-day moving average price is $96.00. The company has a market capitalization of $52.18 billion, a PE ratio of 17.47, a P/E/G ratio of 3.77 and a beta of 1.01. 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 - Get Free Report) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). The company had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the firm posted $1.09 earnings per share. As a group, research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date was Monday, May 5th. ONEOK's payout ratio is 80.47%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays decreased their price target on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday. Citigroup reduced their price objective on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Morgan Stanley lifted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Scotiabank reduced their price objective on shares of ONEOK from $100.00 to $96.00 and set a "sector outperform" rating for the company in a research note on Tuesday, May 20th. Finally, US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Six 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 data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $103.92.

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.