Avior Wealth Management LLC Has $2.76 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Avior Wealth Management LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.3% during the 4th quarter, Holdings Channel.com reports. The firm 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.

Several other institutional investors have also recently made changes to their positions in OKE. Peoples Bank KS bought a new stake in shares of ONEOK during the third quarter worth about $25,000. Beacon Capital Management LLC increased its position in shares of ONEOK by 90.7% during the fourth 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. Quent Capital LLC increased its position in shares of ONEOK by 97.7% during the third quarter. Quent Capital LLC now owns 437 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 216 shares in the last quarter. Resurgent Financial Advisors LLC bought a new stake in shares of ONEOK during the fourth quarter worth about $29,000. Finally, Worth Asset Management LLC bought a new stake in shares of ONEOK during the first quarter worth about $30,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OKE. Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Mizuho upped their price objective on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. JPMorgan Chase & Co. increased their target price on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, March 13th. Finally, UBS Group increased their target price on shares of ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, ONEOK presently has a consensus rating of “Hold” and an average price target of $82.25.

Insider Transactions at ONEOK

In other ONEOK news, Director Wayne Thomas Smith bought 2,700 shares of ONEOK stock in a transaction that occurred on Friday, March 1st. The shares were bought at an average price of $75.25 per share, with a total value of $203,175.00. Following the acquisition, the director now owns 2,700 shares in the company, valued at $203,175. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

NYSE OKE opened at $77.07 on Wednesday. ONEOK, Inc. has a 1 year low of $55.91 and a 1 year high of $80.81. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. The stock has a market capitalization of $44.98 billion, a PE ratio of 13.89, a P/E/G ratio of 2.24 and a beta of 1.65. The company’s 50 day simple moving average is $76.17 and its two-hundred day simple moving average is $70.81.

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

ONEOK announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the utilities provider to buy up to 4.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.