Axxcess Wealth Management LLC Raises Holdings in ONEOK, Inc. (NYSE:OKE)

Axxcess Wealth Management LLC raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 48.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 15,514 shares of the utilities provider’s stock after buying an additional 5,062 shares during the quarter. Axxcess Wealth Management LLC’s holdings in ONEOK were worth $1,089,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OKE. Peoples Bank KS purchased a new stake in shares of ONEOK during the 3rd quarter worth about $25,000. Beacon Capital Management LLC lifted its position in 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 in the last quarter. HHM Wealth Advisors LLC purchased a new stake in ONEOK during the fourth quarter worth approximately $32,000. Loomis Sayles & Co. L P increased its position in shares of ONEOK by 605.1% in the third quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 478 shares in the last quarter. Finally, SOA Wealth Advisors LLC. raised its stake 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 valued at $36,000 after acquiring an additional 377 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OKE. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. US Capital Advisors lowered ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. Raymond James boosted their price target on ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. UBS Group increased their price objective on shares of ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Hold” and an average target price of $83.58.

ONEOK Stock Up 0.3 %

NYSE:OKE opened at $77.49 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The company has a market capitalization of $45.23 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 4.13 and a beta of 1.64. ONEOK, Inc. has a one year low of $55.91 and a one year high of $81.81. The stock has a 50-day simple moving average of $78.34 and a 200 day simple moving average of $72.04.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping 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 15.94% and a net margin of 12.54%. During the same quarter last year, the firm earned $2.34 EPS. Sell-side analysts predict that ONEOK, Inc. will post 4.95 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.11%. ONEOK’s dividend payout ratio (DPR) is 92.09%.

ONEOK declared that its Board of Directors has approved a share buyback program on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the utilities provider to repurchase up to 4.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at ONEOK

In related news, Director Wayne Thomas Smith bought 2,700 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was bought 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 approximately $203,175. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.20% 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.