Graypoint LLC Boosts Holdings in ONEOK, Inc. (NYSE:OKE)

Graypoint LLC lifted its stake in ONEOK, Inc. (NYSE:OKE) by 24.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,931 shares of the utilities provider’s stock after buying an additional 776 shares during the period. Graypoint LLC’s holdings in ONEOK were worth $276,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of ONEOK by 10.3% in the third quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock valued at $3,757,405,000 after purchasing an additional 5,525,010 shares during the period. Moneta Group Investment Advisors LLC raised its position in shares of ONEOK by 118,109.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 22,562,603 shares of the utilities provider’s stock valued at $1,482,363,000 after buying an additional 22,543,516 shares during the last quarter. Deutsche Bank AG raised its position in shares of ONEOK by 37.7% in the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock valued at $843,133,000 after buying an additional 3,636,660 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of ONEOK by 9.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,255,430 shares of the utilities provider’s stock valued at $650,502,000 after buying an additional 889,110 shares during the last quarter. Finally, Morgan Stanley grew its holdings in ONEOK by 20.3% in the third quarter. Morgan Stanley now owns 8,660,013 shares of the utilities provider’s stock valued at $549,305,000 after purchasing an additional 1,458,392 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Down 1.1 %

Shares of OKE stock opened at $77.85 on Tuesday. The business’s 50 day moving average is $75.99 and its two-hundred day moving average is $70.72. The company has a market cap of $45.44 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 2.27 and a beta of 1.65. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. ONEOK, Inc. has a 12 month low of $55.91 and a 12 month high of $80.81.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.03). The company had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.57 billion. ONEOK had a return on equity of 22.57% and a net margin of 15.04%. During the same quarter in the previous year, the business posted $1.08 EPS. Equities analysts predict that ONEOK, Inc. will post 4.98 EPS for the current year.

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

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 5.09%. The ex-dividend date of this dividend was Monday, January 29th. ONEOK’s dividend payout ratio (DPR) is 71.35%.

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. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, March 26th. Barclays boosted their target price on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. US Capital Advisors cut shares of ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Finally, UBS Group upped their price target on shares of ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. One 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $81.73.

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.