AMJ Financial Wealth Management Has $2.54 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

AMJ Financial Wealth Management cut its stake in ONEOK, Inc. (NYSE:OKE) by 18.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,283 shares of the utilities provider’s stock after selling 5,720 shares during the period. AMJ Financial Wealth Management’s holdings in ONEOK were worth $2,538,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Commerzbank Aktiengesellschaft FI grew its position in ONEOK by 18.9% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 18,344 shares of the utilities provider’s stock valued at $1,849,000 after acquiring an additional 2,918 shares during the period. Pinion Investment Advisors LLC boosted its stake in shares of ONEOK by 25.7% in the 4th quarter. Pinion Investment Advisors LLC now owns 11,076 shares of the utilities provider’s stock valued at $1,112,000 after purchasing an additional 2,263 shares in the last quarter. Bahl & Gaynor Inc. grew its holdings in shares of ONEOK by 7.4% in the 4th quarter. Bahl & Gaynor Inc. now owns 1,044,615 shares of the utilities provider’s stock worth $104,879,000 after purchasing an additional 71,556 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of ONEOK by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after purchasing an additional 934,007 shares in the last quarter. Finally, NBW Capital LLC lifted its holdings in ONEOK by 32.5% during the 4th quarter. NBW Capital LLC now owns 5,010 shares of the utilities provider’s stock valued at $503,000 after purchasing an additional 1,230 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 3.8 %

Shares of NYSE OKE opened at $96.57 on Tuesday. ONEOK, Inc. has a 1 year low of $75.69 and a 1 year high of $118.07. The firm’s 50-day moving average is $100.83 and its 200-day moving average is $99.35. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $60.29 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Equities analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.27%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 79.69%.

Analyst Upgrades and Downgrades

OKE has been the topic of several research analyst reports. Scotiabank assumed coverage on shares of ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective on the stock. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Wells Fargo & Company reduced their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.15.

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.