MONECO Advisors LLC Purchases 2,466 Shares of ONEOK, Inc. (NYSE:OKE)

MONECO Advisors LLC grew its position in ONEOK, Inc. (NYSE:OKE) by 66.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,156 shares of the utilities provider’s stock after purchasing an additional 2,466 shares during the quarter. MONECO Advisors LLC’s holdings in ONEOK were worth $432,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of OKE. Peoples Bank KS acquired a new position in ONEOK in the third quarter valued at $25,000. Beacon Capital Management LLC lifted its stake in shares of 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 purchasing an additional 194 shares during the period. HHM Wealth Advisors LLC bought a new stake in shares of ONEOK during the 4th quarter valued at about $32,000. Loomis Sayles & Co. L P grew its stake in ONEOK by 605.1% during the third quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 478 shares during the period. Finally, SOA Wealth Advisors LLC. increased its holdings in ONEOK by 283.5% in the fourth quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 377 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Down 2.8 %

Shares of OKE stock opened at $76.92 on Thursday. ONEOK, Inc. has a 52-week low of $55.91 and a 52-week high of $81.81. The company has a 50-day simple moving average of $78.19 and a two-hundred day simple moving average of $71.91. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90. The company has a market capitalization of $44.89 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 4.81 and a beta of 1.64.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. The company had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. ONEOK had a return on equity of 16.87% and a net margin of 12.54%. During the same period in the prior year, the company posted $2.34 earnings per share. Research analysts anticipate that ONEOK, Inc. will post 5.01 EPS for the current fiscal year.

ONEOK declared that its Board of Directors has authorized 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 shares are undervalued.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date is Tuesday, April 30th. ONEOK’s payout ratio is 92.09%.

Insider Buying and Selling

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was acquired at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the acquisition, the director now owns 2,700 shares of the company’s stock, valued at approximately $203,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on OKE. Seaport Res Ptn raised shares of ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. Stifel Nicolaus boosted their price objective on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. US Capital Advisors lowered ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Morgan Stanley lifted their price target on shares of ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 26th. Finally, Barclays upped their price objective on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $82.25.

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.