Tounjian Advisory Partners LLC Invests $1.35 Million in ONEOK, Inc. (NYSE:OKE)

Tounjian Advisory Partners LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,554 shares of the utilities provider's stock, valued at approximately $1,345,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northstar Advisory Group LLC raised its stake in ONEOK by 10.9% during the 1st quarter. Northstar Advisory Group LLC now owns 4,979 shares of the utilities provider's stock valued at $494,000 after purchasing an additional 491 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of ONEOK by 173.8% during the 1st quarter. Farther Finance Advisors LLC now owns 19,164 shares of the utilities provider's stock worth $1,907,000 after purchasing an additional 12,166 shares during the period. Portside Wealth Group LLC lifted its stake in shares of ONEOK by 5.2% in the first quarter. Portside Wealth Group LLC now owns 11,136 shares of the utilities provider's stock valued at $1,105,000 after buying an additional 555 shares during the period. Capital Investment Advisors LLC grew its position in ONEOK by 3.9% during the first quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider's stock worth $28,774,000 after buying an additional 10,957 shares in the last quarter. Finally, Park Avenue Securities LLC grew its position in ONEOK by 2.8% during the first quarter. Park Avenue Securities LLC now owns 7,816 shares of the utilities provider's stock worth $776,000 after buying an additional 214 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OKE has been the topic of several recent research reports. Scotiabank decreased their price objective on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a report on Thursday, June 5th. Wells Fargo & Company reduced their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus lowered their price target 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. Morgan Stanley increased 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. Finally, Citigroup decreased their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $103.69.

ONEOK Price Performance

Shares of NYSE OKE traded down $0.30 during trading on Thursday, reaching $82.60. The company had a trading volume of 4,512,233 shares, compared to its average volume of 3,365,369. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The business's 50 day moving average price is $82.93 and its 200-day moving average price is $94.68. The stock has a market cap of $52.00 billion, a PE ratio of 17.28, a PEG ratio of 3.77 and a beta of 0.94.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the prior year, the company posted $1.09 EPS. Analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK's dividend payout ratio (DPR) is 80.47%.

ONEOK 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.