3,089 Shares in ONEOK, Inc. (NYSE:OKE) Bought by Accel Wealth Management

Accel Wealth Management acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,089 shares of the utilities provider’s stock, valued at approximately $217,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OKE. Peoples Bank KS acquired a new stake in ONEOK in the third quarter worth about $25,000. First Command Bank lifted its holdings in shares of ONEOK by 401.0% during the 2nd quarter. First Command Bank now owns 491 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 393 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of ONEOK by 97.7% during the 3rd quarter. Quent Capital LLC now owns 437 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 216 shares in the last quarter. Beacon Capital Management LLC lifted its stake in ONEOK by 90.7% in the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 194 shares in the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new position in shares of ONEOK during the 4th quarter worth approximately $29,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on OKE shares. JPMorgan Chase & Co. boosted their target price on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. US Capital Advisors downgraded ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Citigroup upped their price objective on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Mizuho upped their target price on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Finally, Barclays upped their target price on ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $81.73.

ONEOK Stock Up 0.7 %

Shares of NYSE OKE traded up $0.57 during midday trading on Thursday, hitting $80.17. 3,060,635 shares of the stock traded hands, compared to its average volume of 3,102,328. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90. ONEOK, Inc. has a one year low of $55.91 and a one year high of $80.53. The business has a 50 day moving average price of $73.14 and a two-hundred day moving average price of $69.42. The company has a market cap of $46.76 billion, a PE ratio of 14.45, a P/E/G ratio of 2.44 and a beta of 1.65.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 EPS 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 firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter last year, the business posted $1.08 EPS. On average, equities analysts predict that ONEOK, Inc. will post 4.63 EPS for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, January 30th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 4.94%. This is an increase from ONEOK’s previous quarterly dividend of $0.96. The ex-dividend date was Monday, January 29th. ONEOK’s dividend payout ratio (DPR) is presently 71.35%.

ONEOK declared that its Board of Directors has approved a stock repurchase plan on Wednesday, January 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the utilities provider to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at ONEOK

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the stock in a transaction dated Friday, March 1st. The shares were purchased at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the transaction, the director now owns 2,700 shares in the company, valued at approximately $203,175. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.65% of the company’s stock.

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.