J.W. Cole Advisors Inc. Acquires 1,430 Shares of ONEOK, Inc. (NYSE:OKE)

J.W. Cole Advisors Inc. grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 16.2% in the fourth quarter, HoldingsChannel reports. The fund owned 10,277 shares of the utilities provider’s stock after purchasing an additional 1,430 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in ONEOK were worth $722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Peoples Bank KS bought a new stake in shares of ONEOK during the 3rd quarter valued at $25,000. Beacon Capital Management LLC boosted its holdings in ONEOK by 90.7% in the 4th 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 period. Loomis Sayles & Co. L P boosted its holdings in ONEOK by 605.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock worth $35,000 after buying an additional 478 shares during the period. SOA Wealth Advisors LLC. boosted its holdings in 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 buying an additional 377 shares during the period. Finally, Moisand Fitzgerald Tamayo LLC boosted its holdings in ONEOK by 1,690.9% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 591 shares of the utilities provider’s stock worth $37,000 after buying an additional 558 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 0.3 %

Shares of NYSE OKE opened at $79.90 on Tuesday. The firm’s 50-day moving average price is $76.94 and its 200-day moving average price is $71.29. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $46.63 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 4.87 and a beta of 1.65. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $80.84.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.03). The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same quarter in the prior year, the company posted $1.08 earnings per share. On average, equities research analysts anticipate that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

ONEOK announced that its board has authorized a share buyback program 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 programs are often a sign that the company’s board of directors believes its stock is undervalued.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is currently 71.35%.

Insider Buying and Selling

In other news, Director Wayne Thomas Smith acquired 2,700 shares of ONEOK stock in a transaction that occurred on Friday, March 1st. The shares were bought at an average cost of $75.25 per share, with a total value of $203,175.00. Following the transaction, the director now directly owns 2,700 shares of the company’s stock, valued at approximately $203,175. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. UBS Group upped their target price on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Citigroup upped their target price on shares of ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Barclays upped their target price 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. Seaport Res Ptn upgraded shares of ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $82.25.

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.