Avior Wealth Management LLC Grows Holdings in ONEOK, Inc. (NYSE:OKE)

Avior Wealth Management LLC grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,365 shares of the utilities provider’s stock after buying an additional 514 shares during the quarter. Avior Wealth Management LLC’s holdings in ONEOK were worth $2,764,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Regal Investment Advisors LLC increased its holdings in shares of ONEOK by 3.6% during the third quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock valued at $294,000 after purchasing an additional 159 shares during the period. Hoxton Planning & Management LLC grew its holdings in ONEOK by 5.0% during the third quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider’s stock worth $228,000 after acquiring an additional 170 shares during the period. MML Investors Services LLC grew its holdings in ONEOK by 0.8% during the second quarter. MML Investors Services LLC now owns 21,637 shares of the utilities provider’s stock worth $1,335,000 after acquiring an additional 177 shares during the period. Monarch Capital Management Inc. grew its holdings in ONEOK by 1.2% during the fourth quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock worth $1,094,000 after acquiring an additional 183 shares during the period. Finally, Arlington Trust Co LLC grew its holdings in ONEOK by 27.9% during the fourth quarter. Arlington Trust Co LLC now owns 838 shares of the utilities provider’s stock worth $59,000 after acquiring an additional 183 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ONEOK

In other news, Director Wayne Thomas Smith purchased 2,700 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was bought at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the acquisition, the director now directly owns 2,700 shares of the company’s stock, valued at $203,175. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

ONEOK Stock Performance

Shares of OKE opened at $77.07 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. ONEOK, Inc. has a 12 month low of $55.91 and a 12 month high of $80.81. The company’s fifty day moving average is $76.17 and its 200-day moving average is $70.81. The firm has a market cap of $44.98 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 2.24 and a beta of 1.65.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.03). ONEOK had a net margin of 15.04% and a return on equity of 22.57%. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter last year, the business earned $1.08 earnings per share. Equities analysts expect that ONEOK, Inc. will post 4.98 EPS for the current fiscal year.

ONEOK announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the utilities provider to purchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley lifted their target price on ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 26th. Barclays increased their price target on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. Wolfe Research upgraded ONEOK from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Finally, UBS Group increased their price target on ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $82.25.

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.