AE Wealth Management LLC Grows Stake in ONEOK, Inc. $OKE

AE Wealth Management LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 8.6% in the 3rd quarter, Holdings Channel reports. The firm owned 190,260 shares of the utilities provider’s stock after purchasing an additional 15,024 shares during the period. AE Wealth Management LLC’s holdings in ONEOK were worth $13,884,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. City Holding Co. purchased a new stake in ONEOK during the 3rd quarter worth approximately $28,000. Global Wealth Strategies & Associates acquired a new stake in shares of ONEOK in the third quarter worth approximately $29,000. Financial Consulate Inc. purchased a new stake in shares of ONEOK during the third quarter worth approximately $29,000. Access Investment Management LLC acquired a new position in ONEOK in the 2nd quarter valued at $33,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in ONEOK in the 2nd quarter valued at $34,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of the stock in a transaction dated Monday, November 3rd. The stock was acquired at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the acquisition, the director owned 21,200 shares in the company, valued at $1,399,200. This trade represents a 13.37% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.21% of the company’s stock.

ONEOK Stock Down 1.0%

Shares of NYSE OKE opened at $78.48 on Friday. The company has a market capitalization of $49.38 billion, a P/E ratio of 14.43, a P/E/G ratio of 4.53 and a beta of 0.94. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75. The company has a 50 day simple moving average of $73.83 and a 200-day simple moving average of $73.47. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $103.64.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The firm had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.During the same period in the prior year, the firm posted $1.18 earnings per share. On average, equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be paid a $1.07 dividend. This is a boost from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 5.5%. ONEOK’s dividend payout ratio is currently 75.74%.

Analyst Ratings Changes

Several brokerages have issued reports on OKE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ONEOK in a research note on Monday, December 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $72.00 price objective on shares of ONEOK in a research note on Monday, November 3rd. Jefferies Financial Group initiated coverage on shares of ONEOK in a research note on Tuesday, January 20th. They issued a “hold” rating and a $80.00 target price on the stock. Raymond James Financial restated an “outperform” rating and set a $82.00 target price (down from $100.00) on shares of ONEOK in a report on Friday, October 24th. Finally, Stifel Nicolaus set a $94.00 price target on ONEOK in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.31.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.