Arkadios Wealth Advisors Buys 4,612 Shares of ONEOK, Inc. (NYSE:OKE)

Key Points

• Arkadios Wealth Advisors increased its holdings in ONEOK, Inc. by 128.1% during the first quarter, bringing their total shares to 8,211 worth $815,000.
• The stock has seen target price adjustments from multiple analysts, with Stifel Nicolaus lowering its target from $110.00 to $107.00 while maintaining a "buy" rating.
• ONEOK announced a quarterly dividend of $1.03 per share to be paid on August 14th, representing an annualized dividend yield of 5.2%.

Arkadios Wealth Advisors lifted its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 128.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,211 shares of the utilities provider's stock after buying an additional 4,612 shares during the period. Arkadios Wealth Advisors' holdings in ONEOK were worth $815,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of OKE. Brighton Jones LLC raised its holdings in shares of ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock valued at $1,534,000 after buying an additional 8,834 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of ONEOK by 2.6% during the 4th quarter. Franklin Resources Inc. now owns 225,780 shares of the utilities provider's stock valued at $22,668,000 after buying an additional 5,626 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in shares of ONEOK during the 4th quarter valued at about $17,580,000. KCM Investment Advisors LLC raised its holdings in shares of ONEOK by 90.7% during the 4th quarter. KCM Investment Advisors LLC now owns 4,743 shares of the utilities provider's stock valued at $476,000 after buying an additional 2,256 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its stake in ONEOK by 41.8% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 15,399 shares of the utilities provider's stock worth $1,546,000 after purchasing an additional 4,538 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

OKE stock traded up $0.62 during trading on Thursday, reaching $75.85. The stock had a trading volume of 2,070,346 shares, compared to its average volume of 3,984,391. ONEOK, Inc. has a 52 week low of $74.23 and a 52 week high of $118.07. The stock's 50 day moving average is $81.17 and its two-hundred day moving average is $88.12. The company has a current ratio of 0.59, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. The firm has a market cap of $47.75 billion, a PE ratio of 14.80, a PEG ratio of 1.80 and a beta of 0.99.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%. The company had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter in the prior year, the company earned $1.33 earnings per share. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.4%. ONEOK's dividend payout ratio (DPR) is 80.47%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OKE. Wells Fargo & Company decreased their price target on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. lifted their price target on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Citigroup decreased their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Scotiabank set a $92.00 price objective on ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday, July 15th. Finally, Barclays dropped their target price on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 3rd. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.57.

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.