Natixis Advisors L.P. Raises Position in ONEOK, Inc. (NYSE:OKE)

Natixis Advisors L.P. lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 14.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 326,785 shares of the utilities provider’s stock after acquiring an additional 40,928 shares during the period. Natixis Advisors L.P. owned approximately 0.06% of ONEOK worth $22,946,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in OKE. 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 valued at $1,531,000 after purchasing an additional 3,032 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of ONEOK by 26.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 24,568 shares of the utilities provider’s stock worth $1,725,000 after acquiring an additional 5,167 shares during the period. ELCO Management Co. LLC grew its position in ONEOK by 102.3% in the 3rd quarter. ELCO Management Co. LLC now owns 26,432 shares of the utilities provider’s stock worth $1,677,000 after purchasing an additional 13,367 shares during the period. Federated Hermes Inc. raised its stake in ONEOK by 31.6% during the 4th quarter. Federated Hermes Inc. now owns 160,596 shares of the utilities provider’s stock valued at $11,277,000 after buying an additional 38,560 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its stake in ONEOK by 11.4% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,729 shares of the utilities provider’s stock valued at $490,000 after buying an additional 790 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ONEOK news, Director Wayne Thomas Smith purchased 2,700 shares of the stock in a transaction that occurred 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 acquisition, the director now owns 2,700 shares in the company, valued at $203,175. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

ONEOK Trading Up 0.4 %

Shares of OKE stock opened at $77.23 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $45.08 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 4.13 and a beta of 1.64. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $81.81. The stock’s 50-day moving average price is $78.34 and its 200-day moving average price is $72.04.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same quarter in the previous year, the company posted $2.34 EPS. Equities research analysts predict that ONEOK, Inc. will post 4.95 EPS for the current fiscal year.

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

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders 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 annualized dividend and a yield of 5.13%. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

Analysts Set New Price Targets

OKE has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on ONEOK from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group lifted their price target on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Barclays upped their price objective on ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. Raymond James lifted 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, US Capital Advisors downgraded ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK presently 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.