Lake Street Advisors Group LLC Acquires 23,571 Shares of ONEOK, Inc. (NYSE:OKE)

Lake Street Advisors Group LLC increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 161.1% during the 4th quarter, HoldingsChannel reports. The fund owned 38,202 shares of the utilities provider’s stock after buying an additional 23,571 shares during the period. Lake Street Advisors Group LLC’s holdings in ONEOK were worth $3,836,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. National Pension Service boosted its position in shares of ONEOK by 1.6% in the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after purchasing an additional 12,349 shares in the last quarter. Leavell Investment Management Inc. raised its stake in ONEOK by 3.8% during the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after buying an additional 5,175 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its stake in ONEOK by 11.1% during the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock valued at $4,972,000 after buying an additional 5,451 shares during the last quarter. FNY Investment Advisers LLC boosted its holdings in ONEOK by 14,279.1% in the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after acquiring an additional 21,847 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC grew its stake in shares of ONEOK by 57.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after acquiring an additional 5,321 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OKE. Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Scotiabank started coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price for the company. Barclays assumed coverage on shares of ONEOK in a report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price target on the stock. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a report on Wednesday, December 18th. Finally, US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $103.92.

ONEOK Stock Performance

OKE stock opened at $95.66 on Wednesday. The company has a market cap of $55.88 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. 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, Inc. has a 1 year low of $72.44 and a 1 year high of $118.07. The stock’s fifty day moving average price is $100.97 and its 200-day moving average price is $99.04.

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

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio is currently 86.19%.

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.