Advisors Management Group Inc. ADV Has $780,000 Stock Position in ONEOK, Inc. (NYSE:OKE)

Advisors Management Group Inc. ADV increased its stake in ONEOK, Inc. (NYSE:OKE) by 5.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,558 shares of the utilities provider’s stock after acquiring an additional 472 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in ONEOK were worth $780,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OKE. Quest Partners LLC acquired a new position in shares of ONEOK in the second quarter worth approximately $28,000. Matrix Trust Co acquired a new position in shares of ONEOK in the third quarter worth approximately $29,000. Ridgewood Investments LLC acquired a new position in shares of ONEOK in the second quarter worth approximately $31,000. Manchester Capital Management LLC lifted its stake in shares of ONEOK by 66.4% in the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 182 shares during the period. Finally, Values First Advisors Inc. acquired a new position in shares of ONEOK in the third quarter worth approximately $44,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

ONEOK Trading Up 3.6 %

Shares of ONEOK stock opened at $102.20 on Thursday. The stock has a fifty day simple moving average of $94.29 and a 200 day simple moving average of $86.31. ONEOK, Inc. has a 12-month low of $63.33 and a 12-month high of $103.12. The company has a market capitalization of $59.70 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 4.08 and a beta of 1.66. 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) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the prior year, the firm posted $0.99 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a $0.99 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.87%. ONEOK’s dividend payout ratio is currently 82.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OKE. Royal Bank of Canada lifted their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Mizuho lifted their target price on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Tudor Pickering upgraded ONEOK to a “hold” rating in a report on Thursday, July 18th. Finally, Citigroup lifted their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.92.

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.