ONEOK, Inc. (NYSE:OKE) Stake Cut by One Capital Management LLC

One Capital Management LLC decreased its holdings in ONEOK, Inc. (NYSE:OKEFree Report) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,358 shares of the utilities provider’s stock after selling 235 shares during the period. One Capital Management LLC’s holdings in ONEOK were worth $306,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in OKE. Peoples Bank KS acquired a new position in ONEOK in the 3rd quarter valued at approximately $25,000. Beacon Capital Management LLC boosted its stake in shares of ONEOK by 90.7% during the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after buying an additional 194 shares during the period. HHM Wealth Advisors LLC purchased a new position in shares of ONEOK during the 4th quarter valued at $32,000. Loomis Sayles & Co. L P increased its stake 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 worth $35,000 after acquiring an additional 478 shares during the last quarter. Finally, SOA Wealth Advisors LLC. raised its holdings in shares of ONEOK by 283.5% during the fourth quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 377 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the topic of several research reports. StockNews.com lowered ONEOK from a “hold” rating to a “sell” rating in a research report on Thursday. Raymond James boosted their target price on shares of ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Stifel Nicolaus raised their price target on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Barclays upped their price objective on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. Finally, US Capital Advisors cut ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK has an average rating of “Hold” and an average price target of $83.58.

Check Out Our Latest Stock Report on OKE

Insider Activity

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

ONEOK Stock Up 1.1 %

Shares of NYSE:OKE traded up $0.92 during trading on Monday, hitting $80.99. 1,537,738 shares of the company’s stock traded hands, compared to its average volume of 2,930,034. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $81.81. 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 company has a market cap of $47.27 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 4.29 and a beta of 1.64. The company has a 50-day moving average price of $78.81 and a 200-day moving average price of $72.41.

ONEOK (NYSE:OKEGet Free Report) last released 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 return on equity of 15.94% and a net margin of 12.54%. The business had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the previous year, the business posted $2.34 EPS. As a group, research analysts forecast that ONEOK, Inc. will post 4.94 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

ONEOK announced that its board has initiated a stock repurchase program on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the utilities provider to repurchase up to 4.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

ONEOK Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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