U.S. Capital Wealth Advisors LLC Cuts Stock Holdings in ONEOK, Inc. (NYSE:OKE)

U.S. Capital Wealth Advisors LLC reduced its stake in ONEOK, Inc. (NYSE:OKE) by 11.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,045 shares of the utilities provider’s stock after selling 7,135 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in ONEOK were worth $3,865,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Regal Investment Advisors LLC lifted its position 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 valued at $294,000 after purchasing an additional 159 shares in the last quarter. Hoxton Planning & Management LLC increased its position in shares of ONEOK by 5.0% during the third quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider’s stock valued at $228,000 after acquiring an additional 170 shares during the last quarter. Monarch Capital Management Inc. boosted its position in ONEOK by 1.2% in the fourth quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock worth $1,094,000 after purchasing an additional 183 shares during the last quarter. Arlington Trust Co LLC grew its stake in ONEOK by 27.9% in the 4th 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 increased its position in shares of ONEOK by 0.3% during the 3rd quarter. Wealthfront Advisers LLC now owns 70,574 shares of the utilities provider’s stock valued at $4,477,000 after purchasing an additional 190 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

NYSE OKE traded up $0.28 during trading on Friday, reaching $77.23. The company’s stock had a trading volume of 2,235,558 shares, compared to its average volume of 2,820,855. The firm has a fifty day moving average of $78.25 and a 200 day moving average of $71.95. ONEOK, Inc. has a one year low of $55.91 and a one year high of $81.81. The stock has a market capitalization of $45.08 billion, a PE ratio of 17.96, a P/E/G ratio of 4.11 and a beta of 1.64. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.67.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The company had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same period in the prior year, the business earned $2.34 earnings per share. Analysts expect that ONEOK, Inc. will post 4.96 EPS for the current fiscal year.

ONEOK declared that its board has approved a stock repurchase program on Wednesday, January 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the utilities provider to purchase up to 4.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 5.13%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Insider Activity at ONEOK

In other news, Director Wayne Thomas Smith acquired 2,700 shares of the business’s stock in a transaction dated 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 acquisition, the director now owns 2,700 shares of the company’s stock, valued at $203,175. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on OKE shares. Stifel Nicolaus increased their price target on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Citigroup boosted their target price on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Mizuho lifted their price objective on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Raymond James upped their price objective on shares of ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, Wolfe Research upgraded shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $83.58.

About ONEOK

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.