Adamsbrown Wealth Consultants LLC Boosts Stake in ONEOK, Inc. (NYSE:OKE)

Adamsbrown Wealth Consultants LLC grew its stake in ONEOK, Inc. (NYSE:OKE) by 1.8% during the third quarter, HoldingsChannel reports. The fund owned 15,130 shares of the utilities provider’s stock after acquiring an additional 264 shares during the quarter. ONEOK comprises about 0.5% of Adamsbrown Wealth Consultants LLC’s holdings, making the stock its 24th largest position. Adamsbrown Wealth Consultants LLC’s holdings in ONEOK were worth $1,379,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in OKE. QRG Capital Management Inc. grew its stake in ONEOK by 2.2% during the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after buying an additional 119 shares during the last quarter. Johnson Investment Counsel Inc. increased its holdings in shares of ONEOK by 0.9% during the second quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock valued at $1,111,000 after acquiring an additional 122 shares in the last quarter. Brighton Jones LLC raised its position in shares of ONEOK by 1.1% in the 2nd quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock valued at $935,000 after purchasing an additional 122 shares during the last quarter. Capital Wealth Planning LLC boosted its stake in ONEOK by 4.3% in the 2nd quarter. Capital Wealth Planning LLC now owns 3,166 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 131 shares in the last quarter. Finally, Aviso Wealth Management grew its position in ONEOK by 1.7% during the 2nd quarter. Aviso Wealth Management now owns 7,813 shares of the utilities provider’s stock worth $637,000 after purchasing an additional 134 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Citigroup increased their price objective on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Scotiabank increased their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Finally, Royal Bank of Canada raised their target price on shares of ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a report on Thursday, August 22nd. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.38.

ONEOK Price Performance

NYSE OKE traded up $0.25 on Monday, hitting $96.86. The company had a trading volume of 75,323 shares, compared to its average volume of 2,746,071. The company’s fifty day moving average price is $90.44 and its 200-day moving average price is $84.14. The company has a market capitalization of $56.53 billion, a PE ratio of 22.38, a PEG ratio of 4.68 and a beta of 1.67. ONEOK, Inc. has a 12-month low of $63.33 and a 12-month high of $97.10. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the previous year, the firm posted $1.04 earnings per share. As a group, analysts predict that ONEOK, Inc. will post 5.09 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were paid a $0.99 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.09%. ONEOK’s dividend payout ratio is presently 92.09%.

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.