AE Wealth Management LLC Boosts Stake in ONEOK, Inc. $OKE

AE Wealth Management LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 8.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,260 shares of the utilities provider’s stock after buying an additional 15,024 shares during the quarter. AE Wealth Management LLC’s holdings in ONEOK were worth $13,884,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in OKE. City Holding Co. purchased a new stake in ONEOK during the 3rd quarter valued at about $28,000. Global Wealth Strategies & Associates purchased a new position in shares of ONEOK in the third quarter worth about $29,000. Financial Consulate Inc. acquired a new stake in shares of ONEOK during the third quarter worth about $29,000. Access Investment Management LLC purchased a new stake in ONEOK in the second quarter valued at approximately $33,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in ONEOK in the second quarter valued at approximately $34,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Down 1.0%

Shares of ONEOK stock opened at $78.48 on Friday. The firm has a 50-day simple moving average of $73.83 and a two-hundred day simple moving average of $73.47. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $103.64. The company has a market cap of $49.38 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 4.53 and a beta of 0.94.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The firm had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.During the same period last year, the firm earned $1.18 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s dividend payout ratio is currently 75.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on OKE shares. Barclays reduced their price target on shares of ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. UBS Group cut their price objective on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. JPMorgan Chase & Co. downgraded shares of ONEOK from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $87.00 to $83.00 in a research report on Tuesday. Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 price target (down from $100.00) on shares of ONEOK in a report on Friday, October 24th. Finally, Jefferies Financial Group assumed coverage on ONEOK in a research report on Tuesday, January 20th. They set a “hold” rating and a $80.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $87.31.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Brian L. Derksen bought 2,500 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were purchased at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the transaction, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This represents a 13.37% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.21% of the stock is currently owned by insiders.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.