AMJ Financial Wealth Management Sells 12,419 Shares of ONEOK, Inc. (NYSE:OKE)

AMJ Financial Wealth Management decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 30.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 28,443 shares of the utilities provider’s stock after selling 12,419 shares during the quarter. AMJ Financial Wealth Management’s holdings in ONEOK were worth $1,756,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in OKE. First Command Bank lifted its holdings in shares of ONEOK by 401.0% in the second quarter. First Command Bank now owns 491 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 393 shares in the last quarter. Miller Wealth Advisors LLC purchased a new stake in ONEOK in the 1st quarter valued at $29,000. WealthPLAN Partners LLC bought a new position in ONEOK during the 1st quarter valued at $29,000. Resurgent Financial Advisors LLC purchased a new position in ONEOK during the 4th quarter worth $29,000. Finally, Grove Bank & Trust grew its stake in shares of ONEOK by 211.2% in the 1st quarter. Grove Bank & Trust now owns 473 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 321 shares in the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE OKE traded up $0.37 during trading on Monday, reaching $67.00. 821,321 shares of the stock traded hands, compared to its average volume of 3,428,209. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.97 and a quick ratio of 0.66. The stock has a market capitalization of $39.03 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 1.72 and a beta of 1.71. ONEOK, Inc. has a 52-week low of $55.91 and a 52-week high of $71.57. The company has a 50-day moving average of $65.96 and a 200-day moving average of $63.77.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.99 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.03). The business had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.96 billion. ONEOK had a net margin of 14.05% and a return on equity of 26.44%. During the same period last year, the company earned $0.96 earnings per share. Analysts forecast that ONEOK, Inc. will post 5.5 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Wednesday, November 1st were issued a $0.955 dividend. This represents a $3.82 annualized dividend and a yield of 5.70%. The ex-dividend date of this dividend was Tuesday, October 31st. ONEOK’s dividend payout ratio (DPR) is presently 70.09%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OKE. Truist Financial lowered shares of ONEOK from a “buy” rating to a “hold” rating and set a $68.00 price target on the stock. in a research report on Thursday, November 2nd. Royal Bank of Canada lifted their target price on shares of ONEOK from $69.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Thursday. Scotiabank raised ONEOK from a “sector perform” rating to an “outperform” rating in a report on Monday, October 2nd. Raymond James lifted their price target on ONEOK from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, October 19th. Finally, Wells Fargo & Company reduced their price objective on ONEOK from $75.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $75.00.

ONEOK Profile

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through three segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.