Avidian Wealth Solutions LLC Acquires 937 Shares of ONEOK, Inc. (NYSE:OKE)

Avidian Wealth Solutions LLC raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 16.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,627 shares of the utilities provider’s stock after acquiring an additional 937 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in ONEOK were worth $531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in OKE. Rise Advisors LLC bought a new stake in ONEOK during the first quarter valued at $25,000. LifeSteps Financial Inc. purchased a new position in shares of ONEOK during the first quarter worth about $26,000. Beacon Capital Management LLC increased its position in shares of ONEOK by 90.7% in the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 194 shares during the last quarter. HHM Wealth Advisors LLC purchased a new stake in ONEOK in the fourth quarter valued at approximately $32,000. Finally, American National Bank bought a new stake in ONEOK during the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 0.1 %

ONEOK stock traded down $0.10 during trading hours on Wednesday, reaching $82.32. The stock had a trading volume of 1,395,251 shares, compared to its average volume of 2,784,362. The company has a fifty day simple moving average of $80.39 and a 200-day simple moving average of $76.54. ONEOK, Inc. has a 52 week low of $60.58 and a 52 week high of $83.31. The stock has a market cap of $48.05 billion, a PE ratio of 19.06, a PEG ratio of 4.39 and a beta of 1.65. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. The company had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period last year, the firm earned $2.34 earnings per share. Analysts forecast that ONEOK, Inc. will post 4.95 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s payout ratio is 92.09%.

Wall Street Analyst Weigh In

OKE has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. US Capital Advisors cut ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Morgan Stanley increased their price objective on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Finally, Wells Fargo & Company increased their price target on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, ONEOK presently has an average rating of “Hold” and an average target price of $84.50.

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.