BSW Wealth Partners Purchases 319 Shares of ONEOK, Inc. (NYSE:OKE)

BSW Wealth Partners boosted its position in ONEOK, Inc. (NYSE:OKE) by 11.9% during the third quarter, HoldingsChannel reports. The fund owned 2,998 shares of the utilities provider’s stock after buying an additional 319 shares during the quarter. BSW Wealth Partners’ holdings in ONEOK were worth $273,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of ONEOK by 464.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 198,018 shares of the utilities provider’s stock valued at $15,875,000 after buying an additional 162,963 shares in the last quarter. Norden Group LLC boosted its holdings in shares of ONEOK by 153.1% in the first quarter. Norden Group LLC now owns 7,458 shares of the utilities provider’s stock worth $598,000 after acquiring an additional 4,511 shares during the period. Diversify Advisory Services LLC purchased a new position in shares of ONEOK in the first quarter valued at $209,000. Janney Montgomery Scott LLC raised its stake in shares of ONEOK by 6.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 163,754 shares of the utilities provider’s stock valued at $13,128,000 after purchasing an additional 10,460 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in ONEOK by 4.5% during the 1st quarter. Nordea Investment Management AB now owns 35,326 shares of the utilities provider’s stock worth $2,827,000 after purchasing an additional 1,513 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Bank of America began coverage on ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Citigroup upped their target price on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Mizuho raised their price target on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Barclays upped their price target on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Finally, Tudor Pickering raised ONEOK to a “hold” rating in a research note on Thursday, July 18th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.54.

ONEOK Stock Performance

NYSE:OKE opened at $93.36 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.41 and a current ratio of 0.81. ONEOK, Inc. has a fifty-two week low of $63.33 and a fifty-two week high of $98.43. The business has a 50 day moving average price of $93.66 and a 200-day moving average price of $85.94. The firm has a market cap of $54.54 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 4.23 and a beta of 1.66.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period last year, the company posted $0.99 earnings per share. Equities research analysts predict that ONEOK, Inc. will post 5.04 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

Insider Buying and Selling

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by insiders.

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.