Park Avenue Securities LLC Buys 214 Shares of ONEOK, Inc. (NYSE:OKE)

Park Avenue Securities LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,816 shares of the utilities provider’s stock after purchasing an additional 214 shares during the quarter. Park Avenue Securities LLC’s holdings in ONEOK were worth $776,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Greenline Partners LLC bought a new position in ONEOK in the 4th quarter worth $32,000. Vermillion Wealth Management Inc. bought a new position in ONEOK in the 4th quarter worth $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in ONEOK in the 4th quarter worth $39,000. Canton Hathaway LLC bought a new position in ONEOK in the 4th quarter worth $40,000. Finally, J.Safra Asset Management Corp bought a new position in ONEOK in the 4th quarter worth $48,000. 69.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OKE. Morgan Stanley increased their price target on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Wells Fargo & Company cut their price target on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Scotiabank cut their price target on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating for the company in a research note on Thursday, June 5th. Stifel Nicolaus cut their price objective on ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, Citigroup cut their price objective on ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $103.69.

ONEOK Trading Up 1.3%

OKE opened at $83.74 on Friday. The firm has a market cap of $52.72 billion, a P/E ratio of 17.52, a P/E/G ratio of 3.77 and a beta of 0.94. 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 stock has a 50-day moving average of $83.07 and a 200 day moving average of $94.27.

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

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders 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 4.92%. ONEOK’s dividend payout ratio (DPR) is presently 80.47%.

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.