CVA Family Office LLC Invests $57,000 in ONEOK, Inc. (NYSE:OKE)

CVA Family Office LLC acquired a new position in ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 808 shares of the utilities provider’s stock, valued at approximately $57,000.

Other large investors have also recently modified their holdings of the company. Peoples Bank KS purchased a new position in shares of ONEOK in the third quarter worth about $25,000. Beacon Capital Management LLC increased its holdings in shares of ONEOK by 90.7% in the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after buying an additional 194 shares during the period. Quent Capital LLC increased its holdings in ONEOK by 97.7% during the 3rd quarter. Quent Capital LLC now owns 437 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 216 shares during the period. Resurgent Financial Advisors LLC purchased a new position in ONEOK during the 4th quarter valued at about $29,000. Finally, Worth Asset Management LLC purchased a new position in ONEOK during the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insiders Place Their Bets

In other ONEOK news, Director Wayne Thomas Smith purchased 2,700 shares of the business’s stock in a transaction 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 purchase, the director now 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 can be accessed through this link. 0.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on OKE shares. Raymond James boosted their price target on ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Bank of America upgraded ONEOK from a “neutral” rating to a “buy” rating and upped their target price for the stock from $72.00 to $83.00 in a report on Monday, December 4th. UBS Group upped their target price on ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Seaport Res Ptn upgraded ONEOK from a “neutral” rating to a “buy” rating in a report on Thursday, February 8th. Finally, StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $81.73.

ONEOK Price Performance

NYSE OKE opened at $79.59 on Thursday. The business’s fifty day moving average price is $73.14 and its 200-day moving average price is $69.42. The stock has a market capitalization of $46.42 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 2.28 and a beta of 1.65. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $80.22.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.03). The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same period in the previous year, the company earned $1.08 earnings per share. On average, equities analysts predict that ONEOK, Inc. will post 4.98 earnings per share for the current year.

ONEOK declared that its board has approved a stock repurchase plan on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the utilities provider to reacquire up to 4.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.98%. This is a positive change from ONEOK’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Monday, January 29th. ONEOK’s dividend payout ratio is 71.35%.

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.