Brookstone Capital Management Raises Position in ONEOK, Inc. (NYSE:OKE)

Brookstone Capital Management raised its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 43.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,160 shares of the utilities provider's stock after purchasing an additional 16,402 shares during the period. Brookstone Capital Management's holdings in ONEOK were worth $5,374,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Greenline Partners LLC bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $32,000. First Pacific Financial bought a new stake in shares of ONEOK in the first quarter worth approximately $34,000. Vermillion Wealth Management Inc. bought a new stake in shares of ONEOK in the fourth quarter worth approximately $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of ONEOK in the fourth quarter worth $39,000. Finally, MorganRosel Wealth Management LLC bought a new stake in shares of ONEOK in the first quarter worth $39,000. Institutional investors own 69.13% of the company's stock.

ONEOK Trading Down 2.8%

OKE traded down $2.27 during trading on Monday, hitting $79.87. 774,323 shares of the stock were exchanged, compared to its average volume of 3,438,060. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 0.67. The firm has a market cap of $50.28 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.61 and a beta of 0.93. The firm has a 50 day simple moving average of $82.27 and a 200 day simple moving average of $91.46. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The company had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $8.23 billion. During the same quarter in the prior year, the business posted $1.09 earnings per share. As a group, equities analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a dividend of $1.03 per share. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 5.16%. ONEOK's payout ratio is presently 80.47%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Stifel Nicolaus cut their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Citigroup lowered their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company lowered their price target on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Morgan Stanley boosted their target price on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Finally, TD Cowen began coverage on ONEOK in a research report on Monday. They issued a "hold" rating and a $91.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $103.14.

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.