Kayne Anderson Capital Advisors LP Raises Stock Position in ONEOK, Inc. (NYSE:OKE)

Kayne Anderson Capital Advisors LP increased its holdings in ONEOK, Inc. (NYSE:OKE) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,879,903 shares of the utilities provider’s stock after purchasing an additional 55,365 shares during the quarter. ONEOK makes up 6.3% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 7th biggest holding. Kayne Anderson Capital Advisors LP owned approximately 0.49% of ONEOK worth $202,227,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of OKE. Peoples Bank KS bought a new stake in ONEOK during the third quarter valued at $25,000. Beacon Capital Management LLC raised its holdings 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 purchasing an additional 194 shares during the period. HHM Wealth Advisors LLC acquired a new position in shares of ONEOK during the fourth quarter valued at about $32,000. Loomis Sayles & Co. L P raised its holdings 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 purchasing an additional 478 shares during the period. Finally, SOA Wealth Advisors LLC. raised its holdings 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 during the period. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OKE. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Seaport Res Ptn upgraded shares of ONEOK from a “neutral” rating to a “buy” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Mizuho upped their target price on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Finally, Barclays upped their target price on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $83.58.

Insider Activity

In related news, Director Wayne Thomas Smith bought 2,700 shares of ONEOK stock in a transaction dated Friday, March 1st. The stock was purchased 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 of the company’s stock, valued at $203,175. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

ONEOK Stock Up 0.4 %

NYSE:OKE traded up $0.34 on Thursday, hitting $79.48. The stock had a trading volume of 191,152 shares, compared to its average volume of 2,942,059. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The stock has a market cap of $46.39 billion, a P/E ratio of 18.45, 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. The firm’s fifty day simple moving average is $78.52 and its two-hundred day simple moving average is $72.18.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, beating 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 firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter last year, the business posted $2.34 EPS. Analysts predict that ONEOK, Inc. will post 4.95 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio is currently 92.09%.

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

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.