RWA Wealth Partners LLC Boosts Holdings in ONEOK, Inc. (NYSE:OKE)

RWA Wealth Partners LLC boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 22.4% in the fourth quarter, HoldingsChannel reports. The fund owned 37,141 shares of the utilities provider’s stock after purchasing an additional 6,807 shares during the quarter. RWA Wealth Partners LLC’s holdings in ONEOK were worth $2,608,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Diversified LLC acquired a new position in ONEOK during the 4th quarter valued at approximately $214,000. CWM LLC increased its stake in ONEOK by 26.9% during the 4th quarter. CWM LLC now owns 36,927 shares of the utilities provider’s stock valued at $2,593,000 after purchasing an additional 7,832 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its stake in ONEOK by 29.0% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 15,212 shares of the utilities provider’s stock valued at $1,068,000 after purchasing an additional 3,416 shares in the last quarter. Signaturefd LLC increased its stake in ONEOK by 25.7% during the 4th quarter. Signaturefd LLC now owns 7,932 shares of the utilities provider’s stock valued at $557,000 after purchasing an additional 1,621 shares in the last quarter. Finally, Lindbrook Capital LLC increased its stake in ONEOK by 36.1% during the 4th quarter. Lindbrook Capital LLC now owns 20,363 shares of the utilities provider’s stock valued at $1,430,000 after purchasing an additional 5,397 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 0.6 %

OKE stock opened at $80.35 on Wednesday. The firm has a market cap of $46.90 billion, a PE ratio of 14.48, a P/E/G ratio of 4.88 and a beta of 1.65. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90. The firm’s fifty day moving average is $77.16 and its 200 day moving average is $71.41. ONEOK, Inc. has a one year low of $55.91 and a one year high of $80.84.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.03). The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates 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 business posted $1.08 EPS. On average, research analysts forecast that ONEOK, Inc. will post 4.99 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s payout ratio is 71.35%.

ONEOK declared that its board has initiated a stock buyback plan on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the utilities provider to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on OKE shares. Barclays upped their price target on shares of ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. upped their price target on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, March 13th. UBS Group increased their price objective on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Wolfe Research upgraded shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Finally, Seaport Res Ptn upgraded shares of ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $82.25.

Insider Buying and Selling at ONEOK

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were acquired at an average cost of $75.25 per share, with a total value of $203,175.00. Following the completion of the acquisition, the director now directly owns 2,700 shares in the company, valued at approximately $203,175. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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.