Northeast Investment Management Grows Stock Position in ONEOK, Inc. (NYSE:OKE)

Northeast Investment Management boosted its position in ONEOK, Inc. (NYSE:OKE) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,013 shares of the utilities provider’s stock after purchasing an additional 308 shares during the quarter. Northeast Investment Management’s holdings in ONEOK were worth $403,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. lifted its position in ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after buying an additional 96 shares in the last quarter. McAdam LLC boosted its position in shares of ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock valued at $262,000 after acquiring an additional 96 shares during the last quarter. Mutual Advisors LLC grew its holdings in shares of ONEOK by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after purchasing an additional 103 shares during the period. Morton Capital Management LLC CA increased its position in ONEOK by 1.4% during the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after purchasing an additional 104 shares during the last quarter. Finally, HM Payson & Co. raised its stake in ONEOK by 6.3% during the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after purchasing an additional 105 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OKE. Bank of America started coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. UBS Group raised their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research note on Wednesday, December 18th. Royal Bank of Canada raised their price objective on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Finally, Barclays initiated coverage on shares of ONEOK in a research note on Thursday. They set an “equal weight” rating and a $105.00 target price for the company. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.42.

ONEOK Price Performance

Shares of NYSE:OKE opened at $95.75 on Friday. ONEOK, Inc. has a 12 month low of $68.21 and a 12 month high of $118.07. The firm has a market capitalization of $55.94 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70. The business’s 50 day simple moving average is $102.92 and its 200-day simple moving average is $97.49. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a $1.03 dividend. The ex-dividend date is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.30%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 86.19%.

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.