ONEOK, Inc. (NYSE:OKE) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its holdings in ONEOK, Inc. (NYSE:OKEFree Report) by 11.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,470 shares of the utilities provider’s stock after buying an additional 573 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in ONEOK were worth $347,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. King Luther Capital Management Corp lifted its position in shares of ONEOK by 2.4% in the second quarter. King Luther Capital Management Corp now owns 6,793 shares of the utilities provider’s stock worth $419,000 after buying an additional 162 shares during the last quarter. Hoxton Planning & Management LLC lifted its position in shares of ONEOK by 5.0% in the third quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider’s stock worth $228,000 after buying an additional 170 shares during the last quarter. Wealthspire Advisors LLC lifted its position in shares of ONEOK by 0.9% in the second quarter. Wealthspire Advisors LLC now owns 19,296 shares of the utilities provider’s stock worth $1,191,000 after buying an additional 171 shares during the last quarter. MML Investors Services LLC lifted its position in shares of ONEOK by 0.8% in the second quarter. MML Investors Services LLC now owns 21,637 shares of the utilities provider’s stock worth $1,335,000 after buying an additional 177 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of ONEOK by 1.3% in the second quarter. Fifth Third Bancorp now owns 13,874 shares of the utilities provider’s stock worth $856,000 after buying an additional 178 shares during the last quarter. 68.87% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Eduardo A. Rodriguez sold 800 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $70.29, for a total value of $56,232.00. Following the sale, the director now directly owns 25,154 shares in the company, valued at approximately $1,768,074.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OKE. Raymond James boosted their price target on ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Wolfe Research upgraded ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Truist Financial lifted their price objective on ONEOK from $68.00 to $71.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. Royal Bank of Canada lifted their price objective on ONEOK from $69.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 16th. Finally, Bank of America upgraded ONEOK from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $72.00 to $83.00 in a research note on Monday, December 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.91.

Check Out Our Latest Report on ONEOK

ONEOK Trading Up 0.1 %

Shares of OKE opened at $69.04 on Friday. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $72.51. The company has a quick ratio of 0.66, a current ratio of 0.97 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $40.22 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 1.93 and a beta of 1.64. The stock’s 50-day moving average price is $69.47 and its 200 day moving average price is $67.18.

ONEOK announced that its board has authorized a stock repurchase plan on Wednesday, January 17th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the utilities provider to purchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th will be paid a $0.99 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.96. This represents a $3.96 annualized dividend and a dividend yield of 5.74%. The ex-dividend date of this dividend is Monday, January 29th. ONEOK’s dividend payout ratio is currently 72.66%.

ONEOK Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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