Park Avenue Securities LLC Increases Stock Position in ONEOK, Inc. (NYSE:OKE)

Park Avenue Securities LLC raised its position in ONEOK, Inc. (NYSE:OKE) by 13.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,478 shares of the utilities provider’s stock after buying an additional 864 shares during the period. Park Avenue Securities LLC’s holdings in ONEOK were worth $600,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in ONEOK in the 1st quarter worth about $25,000. American National Bank purchased a new position in shares of ONEOK during the 1st quarter valued at approximately $32,000. Beacon Capital Management LLC lifted its position in shares of ONEOK by 90.7% during the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after buying an additional 194 shares in the last quarter. HHM Wealth Advisors LLC acquired a new stake in ONEOK in the 4th quarter valued at $32,000. Finally, Security National Bank acquired a new position in ONEOK during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of research reports. Citigroup boosted their target price on shares of ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. raised their target price on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday. Stifel Nicolaus boosted their price target on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Barclays raised their price objective on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. Finally, Wells Fargo & Company upped their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $84.50.

ONEOK Stock Performance

NYSE:OKE opened at $80.75 on Friday. The company’s 50-day moving average is $80.05 and its two-hundred day moving average is $75.61. ONEOK, Inc. has a 1-year low of $59.06 and a 1-year high of $83.31. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48. The firm has a market capitalization of $47.13 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 4.34 and a beta of 1.65.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The firm 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 in the prior year, the firm posted $2.34 earnings per share. Analysts forecast that ONEOK, Inc. will post 4.94 EPS for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a $0.99 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 4.90%. ONEOK’s payout ratio is currently 92.09%.

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.