U.S. Capital Wealth Advisors LLC Sells 7,135 Shares of ONEOK, Inc. (NYSE:OKE)

U.S. Capital Wealth Advisors LLC lowered its holdings in ONEOK, Inc. (NYSE:OKE) by 11.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,045 shares of the utilities provider’s stock after selling 7,135 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in ONEOK were worth $3,865,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OKE. Peoples Bank KS acquired a new position in ONEOK during the third quarter worth $25,000. Beacon Capital Management LLC grew its stake in ONEOK by 90.7% during the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after buying an additional 194 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in shares of ONEOK in the fourth quarter valued at approximately $32,000. SOA Wealth Advisors LLC. boosted its holdings in shares of ONEOK by 283.5% in the 4th quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 377 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in ONEOK by 605.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 478 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling

In related news, Director Wayne Thomas Smith purchased 2,700 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was purchased at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the purchase, the director now directly owns 2,700 shares in the company, valued at $203,175. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

ONEOK Stock Up 0.4 %

Shares of NYSE:OKE traded up $0.28 during midday trading on Friday, reaching $77.23. 2,235,558 shares of the company were exchanged, compared to its average volume of 2,820,855. The firm has a market cap of $45.08 billion, a PE ratio of 17.96, a P/E/G ratio of 4.11 and a beta of 1.64. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. ONEOK, Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $81.81. The stock has a fifty day simple moving average of $78.25 and a two-hundred day simple moving average of $71.95.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period in the previous year, the company posted $2.34 earnings per share. As a group, sell-side analysts forecast that ONEOK, Inc. will post 4.96 earnings per share for the current year.

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

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 5.13%. The ex-dividend date is Tuesday, April 30th. ONEOK’s payout ratio is 92.09%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on OKE shares. JPMorgan Chase & Co. increased their target price on ONEOK from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday. Wells Fargo & Company boosted their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday. Morgan Stanley raised their price target on shares of ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, March 26th. Citigroup upped their price objective on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Wolfe Research raised ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $83.58.

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.