Capital Investment Advisors LLC Boosts Stake in ONEOK, Inc. (NYSE:OKE)

Capital Investment Advisors LLC lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 3.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 289,997 shares of the utilities provider’s stock after acquiring an additional 10,957 shares during the period. Capital Investment Advisors LLC’s holdings in ONEOK were worth $28,774,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKE. Greenline Partners LLC purchased a new position in shares of ONEOK during the fourth quarter worth approximately $32,000. Vermillion Wealth Management Inc. bought a new position in shares of ONEOK during the 4th quarter valued at $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in ONEOK in the 4th quarter worth $39,000. Canton Hathaway LLC bought a new stake in ONEOK in the fourth quarter worth $40,000. Finally, J.Safra Asset Management Corp purchased a new stake in ONEOK during the fourth quarter valued at about $48,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Up 0.6%

Shares of NYSE OKE opened at $81.70 on Friday. The firm has a fifty day simple moving average of $83.49 and a two-hundred day simple moving average of $95.25. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $51.03 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 3.77 and a beta of 0.94.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. Equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a dividend of $1.03 per share. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.04%. ONEOK’s dividend payout ratio is presently 80.47%.

Wall Street Analysts Forecast Growth

OKE has been the topic of several analyst reports. Scotiabank decreased their price objective on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating on the stock in a report on Thursday. Wells Fargo & Company reduced their price target on ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research note on Monday, February 10th. Barclays dropped their price objective on ONEOK from $101.00 to $91.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 3rd. Finally, Citigroup cut their target price on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.69.

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.