ONEOK, Inc. (NYSE:OKE) Shares Purchased by Mission Wealth Management LP

Mission Wealth Management LP boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 9.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,960 shares of the utilities provider’s stock after acquiring an additional 901 shares during the quarter. Mission Wealth Management LP’s holdings in ONEOK were worth $699,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Peoples Bank KS acquired a new position in shares of ONEOK in the 3rd quarter valued at approximately $25,000. Beacon Capital Management LLC grew its position 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 valued at $29,000 after purchasing an additional 194 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in shares of ONEOK during the fourth quarter valued at $32,000. Loomis Sayles & Co. L P lifted its holdings in shares of ONEOK by 605.1% in the third quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 478 shares in the last quarter. Finally, SOA Wealth Advisors LLC. raised its position in ONEOK by 283.5% in the 4th quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock valued at $36,000 after buying an additional 377 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Truist Financial increased their target price on shares of ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, March 21st. Wolfe Research raised ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Wells Fargo & Company boosted their price objective on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday. Raymond James raised their target price on ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Finally, Morgan Stanley lifted their price objective on shares of ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $83.25.

ONEOK Stock Up 0.0 %

OKE stock opened at $76.95 on Friday. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $81.81. The stock has a market cap of $44.91 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 4.70 and a beta of 1.64. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 1.24. The company’s 50 day moving average is $78.25 and its 200 day moving average is $71.95.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The firm had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter last year, the company posted $2.34 EPS. Sell-side analysts predict that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 5.15%. The ex-dividend date is Tuesday, April 30th. ONEOK’s dividend payout ratio is currently 92.09%.

ONEOK declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the utilities provider to reacquire up to 4.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Wayne Thomas Smith purchased 2,700 shares of the stock in a transaction on Friday, March 1st. The stock was acquired at an average cost of $75.25 per share, with a total value of $203,175.00. Following the completion of the purchase, the director now directly owns 2,700 shares of the company’s stock, valued at approximately $203,175. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company 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.