Integrated Wealth Concepts LLC Purchases 5,697 Shares of ONEOK, Inc. (NYSE:OKE)

Integrated Wealth Concepts LLC grew its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 31.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,824 shares of the utilities provider's stock after purchasing an additional 5,697 shares during the quarter. Integrated Wealth Concepts LLC's holdings in ONEOK were worth $2,171,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. National Pension Service raised its position in shares of ONEOK by 1.6% in the third quarter. National Pension Service now owns 763,833 shares of the utilities provider's stock valued at $69,608,000 after buying an additional 12,349 shares in the last quarter. Leavell Investment Management Inc. increased its stake in 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 acquiring an additional 5,175 shares during the period. Caxton Associates LP acquired a new position in ONEOK in the 2nd quarter valued at $1,225,000. Point72 Europe London LLP bought a new stake in shares of ONEOK during the 2nd quarter valued at $15,008,000. Finally, Nations Financial Group Inc. IA ADV grew its holdings in shares of ONEOK by 11.1% during 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 in the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of analyst reports. US Capital Advisors upgraded shares of ONEOK from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, November 26th. Scotiabank upped their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a "sector outperform" rating in a research report on Friday, August 30th. Barclays raised their target price on shares of ONEOK from $94.00 to $99.00 and gave the company an "equal weight" rating in a research report on Monday, November 4th. Wells Fargo & Company increased their price target on ONEOK from $100.00 to $107.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Finally, Morgan Stanley upgraded ONEOK from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Seven equities 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 stock currently has an average rating of "Moderate Buy" and an average target price of $101.00.

ONEOK Trading Down 1.0 %

Shares of OKE traded down $1.12 during trading hours on Friday, hitting $109.00. 2,160,043 shares of the stock were exchanged, compared to its average volume of 3,390,932. The firm has a market capitalization of $63.68 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 5.48 and a beta of 1.69. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a fifty-two week low of $65.49 and a fifty-two week high of $118.07. The business has a 50-day moving average of $102.06 and a 200-day moving average of $90.78.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS 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 for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the business earned $0.99 EPS. On average, research analysts expect that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.63%. The ex-dividend date was Friday, November 1st. ONEOK's dividend payout ratio is presently 82.85%.

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.