AJOVista LLC Makes New $237,000 Investment in ONEOK, Inc. (NYSE:OKE)

AJOVista LLC bought a new position in ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,377 shares of the utilities provider’s stock, valued at approximately $237,000.

Other hedge funds have also recently modified their holdings of the company. Peoples Bank KS purchased a new position in shares of ONEOK in the third quarter valued at about $25,000. Beacon Capital Management LLC increased its position in shares of ONEOK by 90.7% during the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after buying an additional 194 shares during the period. HHM Wealth Advisors LLC purchased a new position in shares of ONEOK during the fourth quarter valued at about $32,000. Loomis Sayles & Co. L P increased its position in shares of 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. increased its stake in shares of 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 purchasing an additional 377 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Wayne Thomas Smith acquired 2,700 shares of the stock in a transaction on Friday, March 1st. The stock was acquired at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the transaction, the director now directly owns 2,700 shares of the company’s stock, valued at $203,175. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

ONEOK Price Performance

NYSE OKE traded up $0.28 during trading on Friday, hitting $77.23. 2,235,558 shares of the stock traded hands, compared to its average volume of 2,820,855. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $81.81. The firm has a 50-day simple moving average of $78.34 and a 200-day simple moving average of $72.00. The company has a market capitalization of $45.08 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 4.13 and a beta of 1.64.

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

ONEOK announced that its board has initiated a stock buyback program on Wednesday, January 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the utilities provider to buy up to 4.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

ONEOK Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have weighed in on OKE. US Capital Advisors downgraded shares of ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. increased their price target on shares of ONEOK from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Friday. Wolfe Research upgraded shares of ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Seaport Res Ptn upgraded shares of ONEOK from a “neutral” rating to a “buy” rating in a report on Thursday, February 8th. Finally, UBS Group increased their price target on shares of ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.