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

Avidian Wealth Solutions LLC increased its holdings in ONEOK, Inc. (NYSE:OKEFree Report) by 16.5% in the first quarter, Holdings Channel reports. The fund owned 6,627 shares of the utilities provider’s stock after purchasing an additional 937 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in ONEOK were worth $531,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of ONEOK by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after acquiring an additional 5,525,010 shares in the last quarter. Deutsche Bank AG raised its stake in shares of ONEOK by 37.7% during the 3rd quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock worth $843,133,000 after acquiring an additional 3,636,660 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 21.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,408,725 shares of the utilities provider’s stock valued at $871,341,000 after acquiring an additional 2,153,295 shares during the last quarter. Morgan Stanley grew its holdings in ONEOK by 20.3% in the third quarter. Morgan Stanley now owns 8,660,013 shares of the utilities provider’s stock worth $549,305,000 after purchasing an additional 1,458,392 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of ONEOK by 1.5% during the fourth quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock worth $404,055,000 after purchasing an additional 85,736 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on OKE shares. US Capital Advisors downgraded ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Wells Fargo & Company raised their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Morgan Stanley boosted their price objective on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Monday, June 10th. Finally, Mizuho raised their target price on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and a consensus target price of $84.50.

Get Our Latest Stock Report on ONEOK

ONEOK Stock Performance

OKE stock traded down $0.10 during trading on Wednesday, hitting $82.32. 1,395,251 shares of the company traded hands, compared to its average volume of 2,784,362. 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, Inc. has a 1 year low of $60.58 and a 1 year high of $83.31. The stock’s 50-day simple moving average is $80.39 and its 200 day simple moving average is $76.54. The company has a market cap of $48.05 billion, a PE ratio of 19.06, a P/E/G ratio of 4.39 and a beta of 1.65.

ONEOK (NYSE:OKEGet Free Report) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. The firm had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same period in the previous year, the business posted $2.34 EPS. On average, equities analysts expect that ONEOK, Inc. will post 4.95 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

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.

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Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKEFree Report).

Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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