Axxcess Wealth Management LLC Has $1.09 Million Position in ONEOK, Inc. (NYSE:OKE)

Axxcess Wealth Management LLC boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 48.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,514 shares of the utilities provider’s stock after buying an additional 5,062 shares during the period. Axxcess Wealth Management LLC’s holdings in ONEOK were worth $1,089,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Peoples Bank KS purchased a new stake in ONEOK in the 3rd quarter valued at about $25,000. Beacon Capital Management LLC raised its stake 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 worth $29,000 after purchasing an additional 194 shares during the period. HHM Wealth Advisors LLC purchased a new position in shares of ONEOK in the 4th quarter worth about $32,000. Loomis Sayles & Co. L P grew its position in ONEOK by 605.1% during the third quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock valued at $35,000 after buying an additional 478 shares during the period. Finally, SOA Wealth Advisors LLC. grew its position in ONEOK by 283.5% during the fourth quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock valued at $36,000 after buying an additional 377 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the stock in a transaction on Friday, March 1st. The stock was bought at an average cost of $75.25 per share, with a total value of $203,175.00. Following the transaction, the director now directly owns 2,700 shares in the company, valued at $203,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on OKE shares. Seaport Res Ptn upgraded shares of ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. Truist Financial lifted their price objective on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research report on Thursday, March 21st. Wells Fargo & Company upped their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday. US Capital Advisors cut ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Finally, Citigroup raised their price objective on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $83.58.

ONEOK Stock Performance

Shares of NYSE OKE opened at $77.49 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48. The firm has a fifty day moving average price of $78.34 and a 200-day moving average price of $72.04. The stock has a market cap of $45.23 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 4.13 and a beta of 1.64. ONEOK, Inc. has a 1 year low of $55.91 and a 1 year high of $81.81.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The business had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period last year, the firm posted $2.34 EPS. Equities analysts anticipate that ONEOK, Inc. will post 4.95 earnings per share for the current fiscal year.

ONEOK declared that its board has initiated a share buyback plan 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 stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

ONEOK Dividend Announcement

The company also recently disclosed 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. This represents a $3.96 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date is Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

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.