ONEOK, Inc. (NYSE:OKE) Shares Purchased by Signaturefd LLC

Signaturefd LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 25.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,932 shares of the utilities provider’s stock after purchasing an additional 1,621 shares during the quarter. Signaturefd LLC’s holdings in ONEOK were worth $557,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp lifted its holdings in shares of ONEOK by 16.2% during the fourth quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock worth $1,531,000 after purchasing an additional 3,032 shares during the period. ELCO Management Co. LLC lifted its holdings in ONEOK by 102.3% in the third quarter. ELCO Management Co. LLC now owns 26,432 shares of the utilities provider’s stock valued at $1,677,000 after acquiring an additional 13,367 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in ONEOK by 11.4% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,729 shares of the utilities provider’s stock valued at $490,000 after acquiring an additional 790 shares during the period. Vontobel Holding Ltd. lifted its holdings in ONEOK by 32.1% in the fourth quarter. Vontobel Holding Ltd. now owns 72,394 shares of the utilities provider’s stock valued at $5,084,000 after acquiring an additional 17,612 shares during the period. Finally, Prime Capital Investment Advisors LLC lifted its holdings in ONEOK by 1.5% in the third quarter. Prime Capital Investment Advisors LLC now owns 38,780 shares of the utilities provider’s stock valued at $2,460,000 after acquiring an additional 581 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays raised their target price on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. Truist Financial raised their target price on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, March 21st. Mizuho raised their target price on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. Finally, UBS Group lifted their price target on ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $82.25.

ONEOK Trading Up 0.7 %

ONEOK stock opened at $80.95 on Thursday. The stock has a market cap of $47.25 billion, a PE ratio of 14.59, a P/E/G ratio of 4.91 and a beta of 1.65. The stock has a 50-day moving average price of $77.39 and a 200 day moving average price of $71.47. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $81.12. 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 (NYSE:OKE) last posted its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). ONEOK had a net margin of 15.04% and a return on equity of 22.57%. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the company earned $1.08 EPS. Equities research analysts predict that ONEOK, Inc. will post 4.99 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 annualized dividend and a dividend yield of 4.89%. ONEOK’s dividend payout ratio is presently 71.35%.

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

Insider Transactions at ONEOK

In other news, Director Wayne Thomas Smith purchased 2,700 shares of the stock in a transaction on Friday, March 1st. The stock was purchased at an average price of $75.25 per share, with a total value of $203,175.00. Following the completion of the transaction, the director now owns 2,700 shares in the company, valued at $203,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

About ONEOK

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.