Great Valley Advisor Group Inc. Grows Position in ONEOK, Inc. (NYSE:OKE)

Great Valley Advisor Group Inc. boosted its stake in ONEOK, Inc. (NYSE:OKE) by 30.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,248 shares of the utilities provider’s stock after buying an additional 2,647 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in ONEOK were worth $917,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rise Advisors LLC purchased a new stake in ONEOK in the 1st quarter valued at $25,000. LifeSteps Financial Inc. purchased a new stake in ONEOK in the 1st quarter valued at $26,000. HHM Wealth Advisors LLC purchased a new stake in shares of ONEOK during the 4th quarter valued at $32,000. American National Bank purchased a new stake in shares of ONEOK during the 1st quarter valued at $32,000. Finally, Security National Bank purchased a new stake in shares of ONEOK during the 4th quarter valued at $35,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Mizuho raised their target price on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. raised their target price on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Wells Fargo & Company raised their target price on ONEOK from $85.00 to $91.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Stifel Nicolaus raised their target price on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley increased their price target on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, June 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $85.50.

ONEOK Price Performance

NYSE OKE traded up $0.68 during trading hours on Wednesday, hitting $86.42. The company had a trading volume of 879,456 shares, compared to its average volume of 2,761,599. ONEOK, Inc. has a 52 week low of $60.58 and a 52 week high of $86.43. The firm has a 50 day simple moving average of $81.91 and a 200 day simple moving average of $78.80. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The firm has a market capitalization of $50.44 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 4.37 and a beta of 1.65.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter last year, the company earned $1.04 EPS. Equities research analysts expect that ONEOK, Inc. will post 5.02 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.58%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

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.