NorthRock Partners LLC Grows Stake in ONEOK, Inc. (NYSE:OKE)

NorthRock Partners LLC raised its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 133.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,512 shares of the utilities provider's stock after acquiring an additional 3,155 shares during the period. NorthRock Partners LLC's holdings in ONEOK were worth $553,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of OKE. Barclays PLC boosted its stake in ONEOK by 16.1% in the third quarter. Barclays PLC now owns 1,888,864 shares of the utilities provider's stock valued at $172,131,000 after acquiring an additional 262,486 shares in the last quarter. Kathmere Capital Management LLC lifted its stake in shares of ONEOK by 4.0% during the fourth quarter. Kathmere Capital Management LLC now owns 3,941 shares of the utilities provider's stock worth $396,000 after buying an additional 153 shares during the period. Park Avenue Securities LLC lifted its stake in shares of ONEOK by 10.3% during the fourth quarter. Park Avenue Securities LLC now owns 7,602 shares of the utilities provider's stock worth $763,000 after buying an additional 709 shares during the period. Burney Co. lifted its stake in shares of ONEOK by 2.7% during the fourth quarter. Burney Co. now owns 6,615 shares of the utilities provider's stock worth $664,000 after buying an additional 173 shares during the period. Finally, Essex Savings Bank acquired a new stake in shares of ONEOK during the fourth quarter worth $313,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on OKE shares. Morgan Stanley lifted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Scotiabank lowered 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. 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. Wells Fargo & Company decreased their target price on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, Citigroup decreased their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, ONEOK has a consensus rating of "Moderate Buy" and a consensus price target of $104.69.

ONEOK Price Performance

Shares of ONEOK stock traded down $1.06 during trading hours on Tuesday, reaching $83.67. The stock had a trading volume of 2,485,322 shares, compared to its average volume of 3,261,159. The stock's 50 day moving average is $88.43 and its 200 day moving average is $97.65. The firm has a market capitalization of $52.26 billion, a PE ratio of 17.50, a PEG ratio of 3.77 and a beta of 1.01. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). The firm had revenue of $6.49 billion during 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 quarter last year, the company posted $1.09 EPS. Equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.92%. ONEOK's dividend payout ratio is currently 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.