Net Worth Advisory Group Purchases New Position in ONEOK, Inc. (NYSE:OKE)

Net Worth Advisory Group acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,039 shares of the utilities provider's stock, valued at approximately $302,000.

Other large investors have also recently added to or reduced their stakes in the company. Greenline Partners LLC bought a new position in ONEOK during the 4th quarter valued at $32,000. Vermillion Wealth Management Inc. bought a new position in ONEOK during the 4th quarter valued at $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in ONEOK during the 4th quarter valued at $39,000. Canton Hathaway LLC bought a new position in shares of ONEOK in the 4th quarter worth about $40,000. Finally, J.Safra Asset Management Corp bought a new position in shares of ONEOK in the 4th quarter worth about $48,000. 69.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Scotiabank reduced their price target on shares of ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a research report on Thursday, June 5th. Wells Fargo & Company lowered their target price on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Barclays dropped their target price on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 3rd. Stifel Nicolaus dropped their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, 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. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $103.69.

ONEOK Price Performance

NYSE:OKE traded down $1.64 during mid-day trading on Monday, reaching $82.11. 5,523,215 shares of the company were exchanged, compared to its average volume of 3,392,058. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The company has a fifty day moving average of $83.14 and a 200 day moving average of $93.79. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a market cap of $51.69 billion, a PE ratio of 17.18, a PEG ratio of 3.77 and a beta of 0.94.

ONEOK (NYSE:OKE - Get Free Report) last issued 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 business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period last year, the business posted $1.09 EPS. On average, research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.02%. ONEOK's dividend payout ratio is 80.47%.

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.