Sage Mountain Advisors LLC Has $951,000 Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Sage Mountain Advisors LLC lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,476 shares of the utilities provider’s stock after purchasing an additional 490 shares during the period. Sage Mountain Advisors LLC’s holdings in ONEOK were worth $951,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of OKE. Astoria Portfolio Advisors LLC. lifted its holdings in shares of ONEOK by 4.1% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after acquiring an additional 96 shares during the period. McAdam LLC lifted its holdings in shares of ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after acquiring an additional 96 shares during the period. Alliance Wealth Advisors LLC lifted its holdings in shares of ONEOK by 0.8% during the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after acquiring an additional 100 shares during the period. Mutual Advisors LLC lifted its holdings in shares of ONEOK by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after acquiring an additional 103 shares during the period. Finally, Morton Capital Management LLC CA lifted its holdings in shares of ONEOK by 1.4% during the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after acquiring an additional 104 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Up 2.1 %

Shares of NYSE OKE opened at $91.46 on Tuesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. The firm has a 50 day moving average price of $99.81 and a two-hundred day moving average price of $99.49. The stock has a market cap of $57.10 billion, a P/E ratio of 19.13, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. As a group, equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.50%. ONEOK’s dividend payout ratio is 79.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OKE. Barclays cut their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday. UBS Group increased their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company dropped their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Scotiabank dropped their price objective on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Finally, Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.31.

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.