Balboa Wealth Partners Has $606,000 Stake in ONEOK, Inc. (NYSE:OKE)

Balboa Wealth Partners grew its stake in ONEOK, Inc. (NYSE:OKE) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,635 shares of the utilities provider’s stock after purchasing an additional 656 shares during the period. Balboa Wealth Partners’ holdings in ONEOK were worth $606,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in OKE. Enterprise Financial Services Corp bought a new position in ONEOK during the 4th quarter worth approximately $200,000. Dai ichi Life Insurance Company Ltd increased its stake in ONEOK by 142.3% during the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 66,977 shares of the utilities provider’s stock valued at $4,703,000 after purchasing an additional 39,335 shares in the last quarter. Keystone Financial Group purchased a new position in ONEOK during the 4th quarter worth $208,000. CreativeOne Wealth LLC boosted its holdings in ONEOK by 25.3% during the 4th quarter. CreativeOne Wealth LLC now owns 15,361 shares of the utilities provider’s stock worth $1,078,000 after acquiring an additional 3,099 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in ONEOK by 28.8% during the 4th quarter. Corient Private Wealth LLC now owns 158,844 shares of the utilities provider’s stock worth $11,154,000 after acquiring an additional 35,518 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Morgan Stanley lifted their price target on shares of ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, March 26th. UBS Group raised their price objective on ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $83.58.

Insider Buying and Selling

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was bought at an average cost of $75.25 per share, with a total value of $203,175.00. Following the transaction, the director now owns 2,700 shares of the company’s stock, valued at $203,175. The acquisition 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 company insiders.

ONEOK Trading Down 1.6 %

NYSE:OKE traded down $1.35 during trading hours on Wednesday, hitting $81.66. The company had a trading volume of 1,914,745 shares, compared to its average volume of 2,877,770. ONEOK, Inc. has a 1 year low of $56.19 and a 1 year high of $83.31. The company has a 50-day moving average of $79.48 and a 200 day moving average of $73.26. The company has a market cap of $47.66 billion, a P/E ratio of 19.30, a P/E/G ratio of 4.43 and a beta of 1.64. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the prior year, the company earned $2.34 EPS. Sell-side analysts expect that ONEOK, Inc. will post 4.94 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a $0.99 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.85%. ONEOK’s payout ratio is currently 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.