Centerpoint Advisory Group Acquires New Position in ONEOK, Inc. (NYSE:OKE)

Centerpoint Advisory Group purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,909 shares of the utilities provider’s stock, valued at approximately $995,000.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Barclays began coverage on shares of ONEOK in a report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price target for the company. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Monday, February 10th. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Scotiabank assumed coverage on ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. Finally, Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $103.92.

ONEOK Stock Performance

NYSE:OKE opened at $97.96 on Friday. The company has a 50-day moving average of $101.79 and a 200-day moving average of $98.05. The firm has a market cap of $57.23 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70. 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 twelve month low of $69.01 and a twelve month high of $118.07.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $1.03 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.21%. ONEOK’s payout ratio is 86.19%.

ONEOK 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.