BKM Wealth Management LLC Invests $107,000 in ONEOK, Inc. (NYSE:OKE)

BKM Wealth Management LLC acquired a new position in ONEOK, Inc. (NYSE:OKEFree Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,520 shares of the utilities provider’s stock, valued at approximately $107,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Peoples Bank KS purchased a new stake in ONEOK during the 3rd quarter valued at about $25,000. First Command Bank raised its position in ONEOK by 401.0% during the 2nd quarter. First Command Bank now owns 491 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 393 shares during the last quarter. Quent Capital LLC raised its position in ONEOK by 97.7% during the 3rd quarter. Quent Capital LLC now owns 437 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 216 shares during the last quarter. Beacon Capital Management LLC raised its position in ONEOK by 90.7% during 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 last quarter. Finally, Resurgent Financial Advisors LLC bought a new position in shares of ONEOK in the 4th quarter worth approximately $29,000. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. Mizuho reaffirmed a “neutral” rating and set a $75.00 price objective (up previously from $72.00) on shares of ONEOK in a research report on Friday, February 23rd. UBS Group raised their price objective on ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Bank of America raised ONEOK from a “neutral” rating to a “buy” rating and raised their price objective for the company from $72.00 to $83.00 in a research report on Monday, December 4th. Finally, Citigroup raised their price objective on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $79.80.

Check Out Our Latest Report on OKE

Insider Buying and Selling

In other ONEOK news, Director Eduardo A. Rodriguez sold 800 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $70.29, for a total transaction of $56,232.00. Following the sale, the director now directly owns 25,154 shares of the company’s stock, valued at $1,768,074.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Eduardo A. Rodriguez sold 800 shares of ONEOK stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $70.29, for a total value of $56,232.00. Following the sale, the director now directly owns 25,154 shares of the company’s stock, valued at $1,768,074.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wayne Thomas Smith bought 2,700 shares of ONEOK stock in a transaction dated 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 acquisition, the director now directly owns 2,700 shares of the company’s stock, valued at approximately $203,175. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.

ONEOK Stock Performance

OKE stock opened at $78.38 on Wednesday. The company has a market cap of $45.71 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 2.26 and a beta of 1.65. ONEOK, Inc. has a 1 year low of $55.91 and a 1 year high of $78.62. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. The stock’s fifty day moving average price is $72.27 and its 200-day moving average price is $68.92.

ONEOK (NYSE:OKEGet Free Report) last announced its earnings results on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the business posted $1.08 earnings per share. On average, equities analysts forecast that ONEOK, Inc. will post 4.95 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, January 30th were issued a $0.99 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.96. This represents a $3.96 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend was Monday, January 29th. ONEOK’s dividend payout ratio (DPR) is currently 71.35%.

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

ONEOK Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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