RB Capital Management LLC Invests $217,000 in ONEOK, Inc. (NYSE:OKE)

RB Capital Management LLC bought a new position in ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,088 shares of the utilities provider’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Peoples Bank KS purchased a new position in shares of ONEOK in the third quarter valued at about $25,000. Beacon Capital Management LLC lifted its holdings in shares of ONEOK by 90.7% during the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 194 shares during the last quarter. HHM Wealth Advisors LLC acquired a new position in shares of ONEOK in the 4th quarter valued at $32,000. 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. Finally, 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. Institutional investors own 69.13% of the company’s stock.

Insider Activity

In other news, Director Wayne Thomas Smith bought 2,700 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 2,700 shares of the company’s stock, valued at approximately $203,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wolfe Research upgraded ONEOK from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Mizuho boosted their price target 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 boosted their price target on shares of ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Stifel Nicolaus boosted their price target on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $82.25.

ONEOK Stock Performance

OKE stock opened at $76.92 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. The firm has a 50 day moving average of $78.19 and a two-hundred day moving average of $71.91. The company has a market capitalization of $44.89 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 4.81 and a beta of 1.64. ONEOK, Inc. has a 12 month low of $55.91 and a 12 month high of $81.81.

ONEOK (NYSE:OKE) last posted its quarterly earnings data 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. The business had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 16.87%. During the same period in the prior year, the firm earned $2.34 EPS. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.01 EPS for the current fiscal year.

ONEOK declared that its board has authorized a stock repurchase program on Wednesday, January 17th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the utilities provider to reacquire up to 4.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date is Tuesday, April 30th. ONEOK’s dividend payout ratio is 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.