RWA Wealth Partners LLC Increases Position in ONEOK, Inc. (NYSE:OKE)

RWA Wealth Partners LLC boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 22.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,141 shares of the utilities provider’s stock after purchasing an additional 6,807 shares during the quarter. RWA Wealth Partners LLC’s holdings in ONEOK were worth $2,608,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Peoples Bank KS purchased a new stake in shares of ONEOK during the third quarter valued at approximately $25,000. Beacon Capital Management LLC grew its holdings 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 valued at $29,000 after buying an additional 194 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of ONEOK by 605.1% during the third quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock valued at $35,000 after buying an additional 478 shares during the last quarter. SOA Wealth Advisors LLC. grew its holdings in shares of ONEOK by 283.5% during the fourth quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock valued at $36,000 after buying an additional 377 shares during the last quarter. Finally, Moisand Fitzgerald Tamayo LLC grew its holdings in shares of ONEOK by 1,690.9% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 591 shares of the utilities provider’s stock valued at $37,000 after buying an additional 558 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

OKE has been the topic of a number of recent analyst reports. US Capital Advisors cut shares of ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. JPMorgan Chase & Co. raised their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. Wolfe Research upgraded shares of ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Mizuho raised their target price on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Finally, StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, ONEOK has an average rating of “Hold” and an average price target of $82.25.

Insider Activity

In other news, Director Wayne Thomas Smith acquired 2,700 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were purchased at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the transaction, the director now directly owns 2,700 shares of the company’s stock, valued at $203,175. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

ONEOK Stock Up 0.6 %

OKE opened at $80.35 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $80.84. The company has a market capitalization of $46.90 billion, a PE ratio of 14.48, a PEG ratio of 4.88 and a beta of 1.65. The firm’s 50 day simple moving average is $77.16 and its two-hundred day simple moving average is $71.41.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.03). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the previous year, the business posted $1.08 earnings per share. As a group, equities analysts forecast that ONEOK, Inc. will post 4.99 EPS for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.99 per share. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 annualized dividend and a dividend yield of 4.93%. ONEOK’s payout ratio is 71.35%.

ONEOK announced that its Board of Directors has approved a stock buyback plan on Wednesday, January 17th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the utilities provider to repurchase up to 4.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

ONEOK Company 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.