Twelve Points Wealth Management LLC Boosts Stock Position in ONEOK, Inc. (NYSE:OKE)

Twelve Points Wealth Management LLC increased its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 12.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,045 shares of the utilities provider's stock after purchasing an additional 3,403 shares during the period. ONEOK makes up 0.8% of Twelve Points Wealth Management LLC's investment portfolio, making the stock its 25th largest holding. Twelve Points Wealth Management LLC's holdings in ONEOK were worth $2,981,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of OKE. Greenline Partners LLC bought a new stake in ONEOK during the fourth quarter worth $32,000. First Pacific Financial bought a new stake in shares of ONEOK in the 1st quarter worth $34,000. Vermillion Wealth Management Inc. purchased a new stake in shares of ONEOK in the fourth quarter valued at about $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of ONEOK during the fourth quarter valued at about $39,000. Finally, MorganRosel Wealth Management LLC purchased a new position in ONEOK during the first quarter worth about $39,000. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on OKE shares. Scotiabank dropped their target price 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. Barclays reduced their price objective on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 3rd. Morgan Stanley lifted their target price on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Stifel Nicolaus decreased their price objective on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Wells Fargo & Company dropped 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. Seven 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 stock. According to data from MarketBeat, ONEOK currently has an average rating of "Moderate Buy" and an average target price of $103.14.

ONEOK Trading Up 0.6%

NYSE:OKE traded up $0.47 during trading hours on Friday, hitting $81.38. The company had a trading volume of 2,315,889 shares, compared to its average volume of 3,467,642. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. The stock has a 50-day moving average price of $81.97 and a 200 day moving average price of $91.05. The company has a market capitalization of $51.23 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last released 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 return on equity of 15.58% and a net margin of 12.15%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the company earned $1.09 earnings per share. On average, equities research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

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 $1.03 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.06%. ONEOK's payout ratio is 80.47%.

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.