Cwm LLC Raises Position in ONEOK, Inc. (NYSE:OKE)

Cwm LLC increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 26.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,927 shares of the utilities provider’s stock after buying an additional 7,832 shares during the quarter. Cwm LLC’s holdings in ONEOK were worth $2,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in OKE. Regal Investment Advisors LLC lifted its stake in shares of ONEOK by 3.6% during the third quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock worth $294,000 after buying an additional 159 shares during the period. Hoxton Planning & Management LLC lifted its position in ONEOK by 5.0% during the 3rd quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider’s stock worth $228,000 after acquiring an additional 170 shares during the period. Monarch Capital Management Inc. grew its stake in ONEOK by 1.2% during the 4th quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock valued at $1,094,000 after purchasing an additional 183 shares during the last quarter. Arlington Trust Co LLC increased its holdings in shares of ONEOK by 27.9% in the fourth quarter. Arlington Trust Co LLC now owns 838 shares of the utilities provider’s stock valued at $59,000 after purchasing an additional 183 shares during the period. Finally, Wealthfront Advisers LLC raised its stake in shares of ONEOK by 0.3% in the third quarter. Wealthfront Advisers LLC now owns 70,574 shares of the utilities provider’s stock worth $4,477,000 after purchasing an additional 190 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on OKE. Barclays upped their target price on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. raised their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. Stifel Nicolaus upped their price target on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. UBS Group lifted their price objective on ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, ONEOK currently has an average rating of “Hold” and an average target price of $82.25.

ONEOK Trading Up 0.5 %

Shares of OKE stock opened at $81.38 on Friday. The stock has a 50 day simple moving average of $77.60 and a 200-day simple moving average of $71.54. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $81.81. The company has a market cap of $47.50 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 4.94 and a beta of 1.65. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 earnings per share 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 for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. On average, equities research analysts expect that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 4.87%. ONEOK’s dividend payout ratio (DPR) is currently 71.35%.

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

Insider Buying and Selling at ONEOK

In other news, Director Wayne Thomas Smith purchased 2,700 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 2,700 shares of the company’s stock, valued at $203,175. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.