Axxcess Wealth Management LLC Acquires 3,148 Shares of ONEOK, Inc. (NYSE:OKE)

Axxcess Wealth Management LLC increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 22.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,445 shares of the utilities provider’s stock after acquiring an additional 3,148 shares during the quarter. Axxcess Wealth Management LLC’s holdings in ONEOK were worth $1,423,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Rise Advisors LLC bought a new stake in ONEOK during the first quarter worth $25,000. LifeSteps Financial Inc. purchased a new stake in ONEOK in the first quarter worth $26,000. Quest Partners LLC purchased a new stake in ONEOK in the second quarter worth $28,000. Ridgewood Investments LLC purchased a new stake in ONEOK in the second quarter worth $31,000. Finally, American National Bank purchased a new stake in ONEOK in the first quarter worth $32,000. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OKE. Barclays raised their target price on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday. Royal Bank of Canada raised their target price on ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Wells Fargo & Company raised their target price on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Scotiabank raised their target price on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Finally, JPMorgan Chase & Co. lifted their price target on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $92.38.

ONEOK Trading Down 0.8 %

Shares of OKE stock opened at $93.90 on Thursday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The business has a 50-day moving average price of $86.83 and a two-hundred day moving average price of $82.22. ONEOK, Inc. has a 12-month low of $60.58 and a 12-month high of $95.26. The firm has a market cap of $54.84 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 4.49 and a beta of 1.67.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. Equities analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

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.