GM Advisory Group LLC Invests $210,000 in ONEOK, Inc. (NYSE:OKE)

GM Advisory Group LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 2,096 shares of the utilities provider’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Astoria Portfolio Advisors LLC. lifted its stake 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 purchasing an additional 96 shares during the last quarter. McAdam LLC raised 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 buying an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC lifted its position 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 buying an additional 100 shares during the last quarter. Mutual Advisors LLC boosted its stake in 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 buying an additional 103 shares in the last quarter. Finally, Morton Capital Management LLC CA grew its position in ONEOK by 1.4% in the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock valued at $734,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 2.2 %

Shares of OKE opened at $100.12 on Thursday. The company has a market capitalization of $62.51 billion, a PE ratio of 20.95, a PEG ratio of 3.77 and a beta of 1.70. The stock’s 50-day moving average price is $99.03 and its two-hundred day moving average price is $99.75. 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, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating 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, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

Analyst Ratings Changes

OKE has been the subject of a number of research reports. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Scotiabank lowered 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 report on Thursday, March 6th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Wells Fargo & Company lowered their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, Citigroup started coverage on ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target 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.