Callahan Advisors LLC Sells 349 Shares of ONEOK, Inc. (NYSE:OKE)

Callahan Advisors LLC decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 8.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,705 shares of the utilities provider’s stock after selling 349 shares during the period. Callahan Advisors LLC’s holdings in ONEOK were worth $260,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted its stake in ONEOK by 118,109.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 22,562,603 shares of the utilities provider’s stock worth $1,482,363,000 after purchasing an additional 22,543,516 shares during the last quarter. Vanguard Group Inc. lifted its stake in ONEOK by 10.3% in the third quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after purchasing an additional 5,525,010 shares during the last quarter. Cowa LLC lifted its stake in ONEOK by 9,775.0% in the first quarter. Cowa LLC now owns 5,324,428 shares of the utilities provider’s stock worth $3,761,000 after purchasing an additional 5,270,510 shares during the last quarter. Deutsche Bank AG lifted its stake in ONEOK by 37.7% in the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock worth $843,133,000 after purchasing an additional 3,636,660 shares during the last quarter. Finally, Blackstone Inc. lifted its stake in ONEOK by 3,478.3% in the third quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider’s stock worth $226,973,000 after purchasing an additional 3,478,316 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Mizuho raised their target price on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Truist Financial raised their target price on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Seaport Res Ptn raised shares of ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. Finally, Citigroup raised their target price on shares of ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $81.73.

Insider Transactions at ONEOK

In other ONEOK news, Director Wayne Thomas Smith bought 2,700 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $203,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.65% of the company’s stock.

ONEOK Stock Up 0.5 %

OKE stock traded up $0.43 during trading on Friday, hitting $79.65. 1,976,076 shares of the company’s stock traded hands, compared to its average volume of 2,704,693. The business has a fifty day simple moving average of $74.75 and a two-hundred day simple moving average of $70.12. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. ONEOK, Inc. has a 1 year low of $55.91 and a 1 year high of $80.81. The firm has a market capitalization of $46.49 billion, a P/E ratio of 14.35, a PEG ratio of 2.47 and a beta of 1.65.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.03). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the prior year, the firm posted $1.08 earnings per share. Sell-side analysts anticipate that ONEOK, Inc. will post 4.62 EPS for the current year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th were paid a dividend of $0.99 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.96. This represents a $3.96 annualized dividend and a dividend yield of 4.97%. The ex-dividend date was Monday, January 29th. ONEOK’s payout ratio is presently 71.35%.

ONEOK declared that its board has initiated a share repurchase plan on Wednesday, January 17th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the utilities provider to repurchase up to 4.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

ONEOK Company 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.