First Horizon Advisors Inc. Acquires 195 Shares of ONEOK, Inc. (NYSE:OKE)

First Horizon Advisors Inc. increased its holdings in ONEOK, Inc. (NYSE:OKE) by 7.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,922 shares of the utilities provider’s stock after buying an additional 195 shares during the quarter. First Horizon Advisors Inc.’s holdings in ONEOK were worth $205,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Pinnacle Associates Ltd. lifted its position in ONEOK by 27.2% during the third quarter. Pinnacle Associates Ltd. now owns 5,707 shares of the utilities provider’s stock valued at $362,000 after purchasing an additional 1,221 shares during the period. Stratos Wealth Advisors LLC purchased a new position in shares of ONEOK in the 3rd quarter worth $238,000. Brown Advisory Inc. boosted its stake in shares of ONEOK by 446.0% in the 3rd quarter. Brown Advisory Inc. now owns 150,435 shares of the utilities provider’s stock worth $9,542,000 after buying an additional 122,884 shares during the last quarter. Concord Wealth Partners grew its holdings in shares of ONEOK by 27.4% in the third quarter. Concord Wealth Partners now owns 3,455 shares of the utilities provider’s stock worth $219,000 after acquiring an additional 744 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in ONEOK by 6.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 86,365 shares of the utilities provider’s stock valued at $5,478,000 after acquiring an additional 5,019 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Insider Activity at ONEOK

In other news, Director Wayne Thomas Smith acquired 2,700 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was purchased at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the transaction, the director now directly owns 2,700 shares in the company, valued at approximately $203,175. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

ONEOK Price Performance

NYSE:OKE opened at $77.23 on Monday. The business’s 50-day simple moving average is $78.34 and its two-hundred day simple moving average is $72.04. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $81.81. The stock has a market cap of $45.08 billion, a PE ratio of 17.96, a P/E/G ratio of 4.13 and a beta of 1.64. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter last year, the company earned $2.34 EPS. As a group, analysts forecast that ONEOK, Inc. will post 4.95 EPS for the current fiscal year.

ONEOK declared that its board has authorized a share repurchase 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 an indication that the company’s board believes its stock is undervalued.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.99 per share. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.13%. ONEOK’s dividend payout ratio is 92.09%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OKE. Seaport Res Ptn upgraded ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. US Capital Advisors cut shares of ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Wolfe Research upgraded shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Barclays boosted their price objective on shares of ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. Finally, Mizuho raised their target price on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $83.58.

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.