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

Advisor Resource Council bought a new stake in ONEOK, Inc. (NYSE:OKEFree Report) 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:OKEGet Free Report) 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.

View Our Latest Stock Report on ONEOK

ONEOK Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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