Kingswood Wealth Advisors LLC Purchases 35,415 Shares of ONEOK, Inc. (NYSE:OKE)

Kingswood Wealth Advisors LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 244.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,921 shares of the utilities provider’s stock after acquiring an additional 35,415 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in ONEOK were worth $4,966,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of OKE. Greenline Partners LLC acquired a new position in shares of ONEOK during the fourth quarter valued at about $32,000. Vermillion Wealth Management Inc. acquired a new position in ONEOK in the 4th quarter worth approximately $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in ONEOK in the 4th quarter worth approximately $39,000. Canton Hathaway LLC acquired a new position in ONEOK in the 4th quarter worth approximately $40,000. Finally, Rakuten Securities Inc. increased its holdings in ONEOK by 152.1% in the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider’s stock worth $42,000 after buying an additional 254 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Down 1.0%

Shares of NYSE:OKE opened at $81.35 on Wednesday. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The firm has a market capitalization of $51.21 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 1.61 and a beta of 0.94. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. The business’s 50 day moving average price is $83.07 and its 200-day moving average price is $93.71.

ONEOK (NYSE:OKE) last announced its earnings results 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 net margin of 12.15% and a return on equity of 15.58%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter last year, the business earned $1.09 EPS. On average, equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share 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 issued a $1.03 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a yield of 5.06%. ONEOK’s payout ratio is currently 80.47%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on OKE shares. Stifel Nicolaus cut their price target on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Scotiabank lowered their price objective on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating on the stock in a research report on Thursday, June 5th. Barclays lowered their price objective on ONEOK from $101.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 3rd. Citigroup lowered their price objective on ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company lowered their price objective on ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average price target of $103.69.

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.