Mitchell Mcleod Pugh & Williams Inc. Sells 2,601 Shares of ONEOK, Inc. (NYSE:OKE)

Mitchell Mcleod Pugh & Williams Inc. decreased its position in ONEOK, Inc. (NYSE:OKE) by 23.7% during the 4th quarter, Holdings Channel reports. The firm owned 8,366 shares of the utilities provider’s stock after selling 2,601 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in ONEOK were worth $587,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Regal Investment Advisors LLC grew its position in shares of ONEOK by 3.6% in the 3rd quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock worth $294,000 after buying an additional 159 shares during the period. Hoxton Planning & Management LLC increased its stake in shares of ONEOK by 5.0% during the third quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider’s stock valued at $228,000 after purchasing an additional 170 shares in the last quarter. Monarch Capital Management Inc. lifted its holdings in shares of ONEOK by 1.2% during the fourth quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock valued at $1,094,000 after purchasing an additional 183 shares during the last quarter. Arlington Trust Co LLC boosted its position in shares of ONEOK by 27.9% in the 4th quarter. Arlington Trust Co LLC now owns 838 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 183 shares in the last quarter. Finally, Wealthfront Advisers LLC boosted its position in shares of ONEOK by 0.3% in the 3rd quarter. Wealthfront Advisers LLC now owns 70,574 shares of the utilities provider’s stock worth $4,477,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling at ONEOK

In other news, Director Wayne Thomas Smith purchased 2,700 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were bought 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 owns 2,700 shares in the company, valued at $203,175. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

OKE has been the subject of several recent analyst reports. Seaport Res Ptn raised shares of ONEOK from a “neutral” rating to a “buy” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. boosted their price target on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. Stifel Nicolaus lifted their price objective on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Raymond James upped their target price on shares of ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $82.25.

ONEOK Trading Up 0.4 %

Shares of NYSE OKE opened at $81.41 on Tuesday. ONEOK, Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $81.81. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90. The company has a market cap of $47.51 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 4.95 and a beta of 1.65. The business’s 50 day moving average price is $77.97 and its 200-day moving average price is $71.81.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the firm earned $1.08 EPS. On average, sell-side analysts expect that ONEOK, Inc. will post 4.99 earnings per share for the current year.

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

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is 71.35%.

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.