Avior Wealth Management LLC Grows Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Avior Wealth Management LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 1.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,825 shares of the utilities provider’s stock after acquiring an additional 533 shares during the period. Avior Wealth Management LLC’s holdings in ONEOK were worth $3,753,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in ONEOK by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock valued at $7,040,075,000 after buying an additional 558,789 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of ONEOK by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after purchasing an additional 934,007 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of ONEOK by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider’s stock valued at $1,405,697,000 after purchasing an additional 357,015 shares during the last quarter. Northern Trust Corp grew its stake in shares of ONEOK by 15.2% in the 4th quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider’s stock valued at $656,200,000 after purchasing an additional 864,392 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of ONEOK in the 4th quarter valued at approximately $539,554,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on OKE. Barclays reduced their price target on ONEOK from $101.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, June 3rd. Morgan Stanley boosted their price target on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Scotiabank cut their price target on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating for the company in a report on Thursday, June 5th. Wells Fargo & Company lowered their price objective on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Finally, Stifel Nicolaus lowered their price objective on ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.69.

ONEOK Trading Down 0.4%

Shares of OKE opened at $81.07 on Friday. The stock’s 50-day moving average is $83.00 and its two-hundred day moving average is $93.42. The stock has a market cap of $51.04 billion, a PE ratio of 15.83, a P/E/G ratio of 1.59 and a beta of 0.94. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 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 company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. Equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.08%. The ex-dividend date was Monday, May 5th. ONEOK’s dividend payout ratio (DPR) is 80.47%.

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.