Avidian Wealth Enterprises LLC Boosts Position in ONEOK, Inc. (NYSE:OKE)

Avidian Wealth Enterprises LLC raised its stake in ONEOK, Inc. (NYSE:OKE) by 19.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,569 shares of the utilities provider’s stock after buying an additional 1,687 shares during the period. Avidian Wealth Enterprises LLC’s holdings in ONEOK were worth $963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Norden Group LLC increased its holdings in ONEOK by 153.1% during the 1st quarter. Norden Group LLC now owns 7,458 shares of the utilities provider’s stock worth $598,000 after purchasing an additional 4,511 shares during the period. Nordea Investment Management AB raised its holdings in shares of ONEOK by 4.5% in the first quarter. Nordea Investment Management AB now owns 35,326 shares of the utilities provider’s stock valued at $2,827,000 after acquiring an additional 1,513 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in ONEOK in the first quarter worth about $88,000. Mediolanum International Funds Ltd purchased a new position in ONEOK during the 1st quarter valued at about $1,170,000. Finally, Csenge Advisory Group lifted its position in shares of ONEOK by 3.3% in the 1st quarter. Csenge Advisory Group now owns 12,029 shares of the utilities provider’s stock worth $964,000 after purchasing an additional 386 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Mizuho lifted their price target on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Citigroup boosted their target price on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Wells Fargo & Company boosted their price objective on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. Finally, Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $96.92.

Insider Activity

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

ONEOK Stock Up 3.6 %

NYSE:OKE opened at $102.20 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company’s fifty day moving average price is $94.29 and its 200-day moving average price is $86.31. ONEOK, Inc. has a 1-year low of $63.33 and a 1-year high of $103.12. The firm has a market capitalization of $59.70 billion, a P/E ratio of 21.38, a PEG ratio of 4.08 and a beta of 1.66.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the prior year, the business posted $0.99 earnings per share. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.87%. ONEOK’s payout ratio is 82.85%.

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.