Accel Wealth Management Invests $217,000 in ONEOK, Inc. (NYSE:OKE)

Accel Wealth Management acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, Holdings Channel.com reports. The fund acquired 3,089 shares of the utilities provider’s stock, valued at approximately $217,000.

Other large investors also recently made changes to their positions in the company. Peoples Bank KS acquired a new stake in shares of ONEOK during the 3rd quarter worth about $25,000. First Command Bank grew its holdings in shares of 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 grew its holdings in shares of 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 grew its holdings in shares of 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 acquired a new stake in ONEOK during the 4th quarter worth approximately $29,000. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of recent analyst reports. Bank of America upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $72.00 to $83.00 in a research report on Monday, December 4th. 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 research note on Thursday, March 7th. Truist Financial upped their target price on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. Raymond James increased their price target on shares of ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Finally, Seaport Res Ptn raised shares of ONEOK from a “neutral” rating to a “buy” rating in a report on Thursday, February 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, ONEOK presently has an average rating of “Hold” and a consensus price target of $81.73.

Insider Activity

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were bought at an average price of $75.25 per share, with a total value of $203,175.00. Following the completion of the transaction, the director now directly owns 2,700 shares in the company, valued at $203,175. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.65% of the company’s stock.

ONEOK Trading Up 0.7 %

NYSE:OKE traded up $0.57 during trading hours on Thursday, hitting $80.17. The company had a trading volume of 3,060,635 shares, compared to its average volume of 3,102,328. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $80.53. The company has a market capitalization of $46.76 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 2.44 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. The stock has a 50-day moving average price of $73.14 and a 200 day moving average price of $69.42.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.03). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the previous year, the company earned $1.08 earnings per share. On average, equities research analysts predict that ONEOK, Inc. will post 4.63 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Monday, January 29th. This represents a $3.96 annualized dividend and a dividend yield of 4.94%. This is a positive change from ONEOK’s previous quarterly dividend of $0.96. ONEOK’s dividend payout ratio (DPR) is currently 71.35%.

ONEOK declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the utilities provider to purchase up to 4.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

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.