Advisor Resource Council Invests $511,000 in ONEOK, Inc. (NYSE:OKE)

Advisor Resource Council bought a new stake in ONEOK, Inc. (NYSE:OKE) during the 1st quarter, HoldingsChannel reports. The firm bought 5,148 shares of the utilities provider’s stock, valued at approximately $511,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Segment Wealth Management LLC lifted its holdings in ONEOK by 291.7% in the first quarter. Segment Wealth Management LLC now owns 44,245 shares of the utilities provider’s stock valued at $4,390,000 after buying an additional 32,949 shares during the period. Arrow Investment Advisors LLC acquired a new position in ONEOK in the first quarter valued at $210,000. L.M. Kohn & Company lifted its holdings in ONEOK by 23.2% in the first quarter. L.M. Kohn & Company now owns 3,030 shares of the utilities provider’s stock valued at $301,000 after buying an additional 570 shares during the period. Spirit of America Management Corp NY lifted its holdings in ONEOK by 2.2% in the first quarter. Spirit of America Management Corp NY now owns 110,472 shares of the utilities provider’s stock valued at $10,961,000 after buying an additional 2,330 shares during the period. Finally, Avior Wealth Management LLC lifted its holdings in ONEOK by 1.4% in the first quarter. Avior Wealth Management LLC now owns 37,825 shares of the utilities provider’s stock valued at $3,753,000 after buying an additional 533 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 1.3%

Shares of OKE stock opened at $82.25 on Monday. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 0.67. The company has a 50-day simple moving average of $83.00 and a two-hundred day simple moving average of $93.00. The company has a market capitalization of $51.78 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.61 and a beta of 0.94.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a return on equity of 15.58% and a net margin of 12.15%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the company posted $1.09 earnings per share. Research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK’s payout ratio is 80.47%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on OKE shares. Citigroup dropped their target price on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Scotiabank decreased their price target on shares of ONEOK from $96.00 to $93.00 and set a “sector outperform” rating for the company in a research note on Thursday, June 5th. Morgan Stanley lifted their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Barclays decreased their price target on shares of ONEOK from $101.00 to $91.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 3rd. Finally, Stifel Nicolaus decreased their price target on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.69.

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.