Wealthcare Advisory Partners LLC Grows Holdings in ONEOK, Inc. (NYSE:OKE)

Wealthcare Advisory Partners LLC increased its position in ONEOK, Inc. (NYSE:OKE) by 14.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,571 shares of the utilities provider’s stock after acquiring an additional 1,500 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in ONEOK were worth $928,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OKE. Morgan Stanley increased 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. US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Mizuho increased their price objective on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Barclays increased their price objective on shares of 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 increased their target price on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $84.50.

ONEOK Stock Up 1.0 %

Shares of OKE opened at $81.55 on Friday. The company has a market cap of $47.60 billion, a PE ratio of 18.97, a P/E/G ratio of 4.33 and a beta of 1.65. The business has a fifty day moving average of $80.15 and a 200 day moving average of $75.75. ONEOK, Inc. has a 52-week low of $60.52 and a 52-week high of $83.31. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate 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 company earned $2.34 earnings per share. On average, sell-side analysts expect that ONEOK, Inc. will post 4.94 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a dividend of $0.99 per share. The ex-dividend date was Tuesday, April 30th. This represents a $3.96 annualized dividend and a dividend yield of 4.86%. ONEOK’s dividend payout ratio (DPR) is 92.09%.

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.