AMJ Financial Wealth Management Raises Stock Holdings in ONEOK, Inc. (NYSE:OKE)

AMJ Financial Wealth Management boosted its stake in ONEOK, Inc. (NYSE:OKE) by 4.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,501 shares of the utilities provider’s stock after purchasing an additional 1,279 shares during the quarter. AMJ Financial Wealth Management’s holdings in ONEOK were worth $2,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. QRG Capital Management Inc. lifted its holdings in shares of ONEOK by 2.2% during the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after acquiring an additional 119 shares during the last quarter. Sheets Smith Wealth Management boosted its holdings in shares of ONEOK by 0.3% in the 1st quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock worth $4,185,000 after purchasing an additional 139 shares in the last quarter. Ameritas Advisory Services LLC increased its position in shares of ONEOK by 0.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 42,597 shares of the utilities provider’s stock valued at $3,474,000 after purchasing an additional 140 shares during the last quarter. Monarch Capital Management Inc. raised its holdings in shares of ONEOK by 0.9% during the 2nd quarter. Monarch Capital Management Inc. now owns 15,716 shares of the utilities provider’s stock valued at $1,282,000 after buying an additional 143 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in ONEOK by 4.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock worth $256,000 after buying an additional 144 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on OKE shares. Mizuho lifted their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Tudor Pickering upgraded ONEOK to a “hold” rating in a report on Thursday, July 18th. Morgan Stanley increased their price target on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. Finally, JPMorgan Chase & Co. lifted their price objective on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $89.92.

ONEOK Stock Up 0.0 %

OKE traded up $0.03 during midday trading on Tuesday, reaching $92.07. The company’s stock had a trading volume of 95,205 shares, compared to its average volume of 2,752,372. ONEOK, Inc. has a 1 year low of $60.58 and a 1 year high of $93.00. The stock’s 50-day moving average is $85.45 and its 200-day moving average is $81.38. The firm has a market capitalization of $53.78 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 4.51 and a beta of 1.67. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter last year, the company earned $1.04 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio is presently 92.09%.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.

ONEOK Company 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.