Mutual of America Capital Management LLC raised its holdings in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 26.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,488 shares of the utilities provider’s stock after buying an additional 17,136 shares during the period. Mutual of America Capital Management LLC’s holdings in ONEOK were worth $5,169,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of OKE. Peoples Bank KS acquired a new position in ONEOK during the third quarter valued at approximately $25,000. First Command Bank lifted its position in ONEOK by 401.0% during the second quarter. First Command Bank now owns 491 shares of the utilities provider’s stock valued at $27,000 after buying an additional 393 shares in the last quarter. Quent Capital LLC lifted its position in ONEOK by 97.7% during the third quarter. Quent Capital LLC now owns 437 shares of the utilities provider’s stock valued at $28,000 after buying an additional 216 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new position in ONEOK during the fourth quarter valued at approximately $29,000. Finally, Worth Asset Management LLC acquired a new position in shares of ONEOK during the first quarter worth $30,000. 68.87% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
OKE has been the topic of a number of recent research reports. Bank of America raised shares of ONEOK from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $72.00 to $83.00 in a research report on Monday, December 4th. Royal Bank of Canada boosted 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, November 16th. Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Raymond James boosted their target price on shares of ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Finally, Truist Financial boosted their target price on shares of ONEOK from $68.00 to $71.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.91.
In other news, Director Eduardo A. Rodriguez sold 800 shares of the business’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $70.29, for a total transaction of $56,232.00. Following the completion of the transaction, the director now owns 25,154 shares of the company’s stock, valued at $1,768,074.66. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.
ONEOK Stock Performance
Shares of OKE opened at $69.04 on Monday. ONEOK, Inc. has a 1 year low of $55.91 and a 1 year high of $72.51. The company has a market cap of $40.22 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.91 and a beta of 1.64. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.66 and a current ratio of 0.97. The firm has a fifty day moving average of $69.47 and a 200-day moving average of $67.17.
ONEOK Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th will be issued a dividend of $0.99 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.96. The ex-dividend date is Monday, January 29th. This represents a $3.96 annualized dividend and a dividend yield of 5.74%. ONEOK’s payout ratio is 72.66%.
ONEOK declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the utilities provider to buy up to 4.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
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.
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