Spire Wealth Management Lowers Position in ONEOK, Inc. (NYSE:OKE)

Spire Wealth Management reduced its stake in ONEOK, Inc. (NYSE:OKE) by 25.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,067 shares of the utilities provider’s stock after selling 3,083 shares during the quarter. Spire Wealth Management’s holdings in ONEOK were worth $635,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OKE. Regal Investment Advisors LLC raised its stake in shares of ONEOK by 3.6% in the third quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock valued at $294,000 after acquiring an additional 159 shares in the last quarter. FourThought Financial Partners LLC increased its stake in shares of ONEOK by 3.8% during the fourth quarter. FourThought Financial Partners LLC now owns 4,386 shares of the utilities provider’s stock worth $308,000 after buying an additional 161 shares during the period. Monarch Capital Management Inc. raised its holdings in ONEOK by 1.2% in the fourth quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock valued at $1,094,000 after acquiring an additional 183 shares in the last quarter. Arlington Trust Co LLC lifted its stake in ONEOK by 27.9% in the fourth quarter. Arlington Trust Co LLC now owns 838 shares of the utilities provider’s stock worth $59,000 after acquiring an additional 183 shares during the last quarter. Finally, Wealthfront Advisers LLC increased its position in shares of ONEOK by 0.3% in 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 currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ONEOK news, Director Wayne Thomas Smith purchased 2,700 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the purchase, the director now directly owns 2,700 shares in the company, valued at $203,175. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

ONEOK Price Performance

Shares of NYSE:OKE opened at $80.03 on Friday. 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 $46.71 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 4.13 and a beta of 1.64. The company has a 50-day simple moving average of $78.62 and a 200-day simple moving average of $72.22. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70.

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, 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 firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period last year, the firm posted $2.34 EPS. On average, analysts predict that ONEOK, Inc. will post 4.95 EPS for the current year.

ONEOK declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the utilities provider to repurchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is 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 issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio is presently 92.09%.

Analyst Ratings Changes

A number of equities analysts recently commented on OKE shares. Seaport Res Ptn upgraded shares of ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. US Capital Advisors lowered ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Citigroup upped their price target on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. StockNews.com lowered shares of ONEOK from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, UBS Group boosted their price objective on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $83.58.

ONEOK 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.