Bay Colony Advisory Group Inc d b a Bay Colony Advisors Has $413,000 Position in ONEOK, Inc. (NYSE:OKE)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in ONEOK, Inc. (NYSE:OKE) by 32.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,883 shares of the utilities provider’s stock after buying an additional 1,427 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in ONEOK were worth $413,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in ONEOK by 10.3% during the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock valued at $3,757,405,000 after purchasing an additional 5,525,010 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its stake in ONEOK by 118,109.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 22,562,603 shares of the utilities provider’s stock valued at $1,482,363,000 after purchasing an additional 22,543,516 shares during the last quarter. Deutsche Bank AG boosted its stake in ONEOK by 37.7% during the 3rd quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock valued at $843,133,000 after purchasing an additional 3,636,660 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in ONEOK by 9.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,255,430 shares of the utilities provider’s stock valued at $650,502,000 after purchasing an additional 889,110 shares during the last quarter. Finally, Morgan Stanley boosted its stake in ONEOK by 20.3% during the 3rd quarter. Morgan Stanley now owns 8,660,013 shares of the utilities provider’s stock valued at $549,305,000 after purchasing an additional 1,458,392 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Wayne Thomas Smith purchased 2,700 shares of ONEOK stock in a transaction dated Friday, March 1st. The stock was purchased at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the transaction, the director now directly owns 2,700 shares of the company’s stock, valued at $203,175. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on OKE shares. Morgan Stanley lifted their target price on shares of ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 26th. Seaport Res Ptn raised shares of ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Raymond James lifted their target price on shares of ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Finally, US Capital Advisors cut shares of ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $81.73.

ONEOK Trading Down 1.1 %

Shares of OKE stock opened at $77.85 on Tuesday. The company’s fifty day simple moving average is $75.99 and its two-hundred day simple moving average is $70.72. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. ONEOK, Inc. has a 1 year low of $55.91 and a 1 year high of $80.81. The stock has a market capitalization of $45.44 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 2.27 and a beta of 1.65.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same period in the previous year, the firm earned $1.08 EPS. As a group, analysts anticipate that ONEOK, Inc. will post 4.98 earnings per share for the current year.

ONEOK declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the utilities provider to purchase up to 4.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th were given a dividend of $0.99 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.96. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date of this dividend was Monday, January 29th. ONEOK’s payout ratio is 71.35%.

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.