HHM Wealth Advisors LLC Invests $32,000 in ONEOK, Inc. (NYSE:OKE)

HHM Wealth Advisors LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 450 shares of the utilities provider’s stock, valued at approximately $32,000.

A number of other large investors have also made changes to their positions in OKE. Peoples Bank KS acquired a new position in shares of ONEOK in the 3rd quarter valued at $25,000. Beacon Capital Management LLC increased its position in shares of ONEOK by 90.7% in the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 194 shares during the period. SOA Wealth Advisors LLC. increased its position in shares of ONEOK by 283.5% in the 4th quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 377 shares during the period. Loomis Sayles & Co. L P grew its position in ONEOK by 605.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 478 shares during the period. Finally, Islay Capital Management LLC acquired a new stake in ONEOK during the 3rd quarter worth about $38,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Down 0.4 %

OKE stock opened at $81.06 on Monday. The company has a market cap of $47.31 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 4.95 and a beta of 1.65. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. ONEOK, Inc. has a 12 month low of $55.91 and a 12 month high of $81.81. The firm has a 50-day moving average of $77.78 and a two-hundred day moving average of $71.71.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same quarter in the previous year, the company posted $1.08 EPS. As a group, analysts forecast that ONEOK, Inc. will post 4.99 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.89%. ONEOK’s dividend payout ratio is currently 71.35%.

ONEOK announced that its board has initiated a stock buyback plan on Wednesday, January 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the utilities provider to reacquire up to 4.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on OKE shares. Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. Mizuho increased their target price on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Raymond James increased their target price on shares of ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Finally, US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Hold” and an average target price of $82.25.

Insider Transactions at ONEOK

In other news, Director Wayne Thomas Smith purchased 2,700 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was acquired at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the acquisition, the director now directly owns 2,700 shares of the company’s stock, valued at $203,175. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

About ONEOK

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.