ONEOK, Inc. (NYSE:OKE) Stock Holdings Lessened by Mutual Advisors LLC

Mutual Advisors LLC trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,616 shares of the utilities provider’s stock after selling 505 shares during the quarter. Mutual Advisors LLC’s holdings in ONEOK were worth $675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Peoples Bank KS acquired a new position in ONEOK in the third quarter worth approximately $25,000. First Command Bank increased its holdings in ONEOK by 401.0% in the second quarter. First Command Bank now owns 491 shares of the utilities provider’s stock worth $27,000 after buying an additional 393 shares during the last quarter. Quent Capital LLC increased its holdings in ONEOK by 97.7% in the third quarter. Quent Capital LLC now owns 437 shares of the utilities provider’s stock worth $28,000 after buying an additional 216 shares during the last quarter. Beacon Capital Management LLC increased its holdings in 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 last quarter. Finally, Resurgent Financial Advisors LLC acquired a new position in ONEOK in the fourth quarter worth approximately $29,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on OKE shares. Citigroup increased their price objective on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. increased their price target on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. Truist Financial increased their price target on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, March 21st. Finally, Bank of America upgraded ONEOK from a “neutral” rating to a “buy” rating and increased their price target for the company from $72.00 to $83.00 in a report on Monday, December 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $81.73.

Insider Buying and Selling

In other news, Director Wayne Thomas Smith bought 2,700 shares of ONEOK stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average cost of $75.25 per share, with a total value of $203,175.00. Following the completion of the transaction, the director now directly owns 2,700 shares in the company, valued at $203,175. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

ONEOK Trading Up 1.2 %

Shares of ONEOK stock opened at $79.59 on Thursday. The company’s fifty day simple moving average is $73.14 and its 200-day simple moving average is $69.42. The company has a market cap 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 current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. ONEOK, Inc. has a 1 year low of $55.91 and a 1 year high of $80.22.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.03). The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.57 billion. ONEOK had a return on equity of 22.57% and a net margin of 15.04%. During the same period last year, the business earned $1.08 earnings per share. As a group, sell-side analysts expect that ONEOK, Inc. will post 4.98 EPS for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, January 30th were given a $0.99 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.96. This represents a $3.96 annualized dividend and a yield of 4.98%. The ex-dividend date was Monday, January 29th. ONEOK’s dividend payout ratio (DPR) is 71.35%.

ONEOK declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the utilities provider to repurchase up to 4.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

ONEOK Company 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.