Axxcess Wealth Management LLC Purchases 3,353 Shares of ONEOK, Inc. (NYSE:OKE)

Axxcess Wealth Management LLC lifted its position in ONEOK, Inc. (NYSE:OKE) by 19.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,424 shares of the utilities provider’s stock after buying an additional 3,353 shares during the period. Axxcess Wealth Management LLC’s holdings in ONEOK were worth $2,050,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kieckhefer Group LLC bought a new position in shares of ONEOK in the fourth quarter worth approximately $30,000. Canton Hathaway LLC bought a new position in shares of ONEOK in the fourth quarter worth approximately $40,000. J.Safra Asset Management Corp bought a new position in shares of ONEOK in the fourth quarter worth approximately $48,000. OFI Invest Asset Management bought a new position in shares of ONEOK in the fourth quarter worth approximately $51,000. Finally, Versant Capital Management Inc lifted its stake in shares of ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after buying an additional 260 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE OKE opened at $100.12 on Thursday. The firm has a fifty day moving average price of $99.03 and a 200-day moving average price of $99.75. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a market cap of $62.51 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.11%. ONEOK’s dividend payout ratio is currently 79.69%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OKE. Barclays lowered their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Scotiabank lowered their price objective on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Wells Fargo & Company lowered their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, Truist Financial increased their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $103.31.

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.