ONEOK, Inc. (NYSE:OKE) Shares Sold by Fiduciary Group LLC

Fiduciary Group LLC reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 5.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,100 shares of the utilities provider’s stock after selling 252 shares during the period. Fiduciary Group LLC’s holdings in ONEOK were worth $288,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in OKE. Valeo Financial Advisors LLC raised its stake in shares of ONEOK by 4.8% in the 3rd quarter. Valeo Financial Advisors LLC now owns 6,848 shares of the utilities provider’s stock valued at $434,000 after acquiring an additional 316 shares during the period. ST Germain D J Co. Inc. grew its position in shares of ONEOK by 7,702.2% during the third quarter. ST Germain D J Co. Inc. now owns 3,511 shares of the utilities provider’s stock worth $223,000 after buying an additional 3,466 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in ONEOK by 14.0% in the third quarter. Commonwealth Equity Services LLC now owns 715,715 shares of the utilities provider’s stock valued at $45,398,000 after acquiring an additional 88,135 shares in the last quarter. FAS Wealth Partners Inc. acquired a new position in ONEOK during the 3rd quarter worth approximately $383,000. Finally, Busey Trust CO acquired a new stake in shares of ONEOK in the 3rd quarter valued at $666,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

NYSE OKE opened at $81.41 on Tuesday. The company has a market capitalization of $47.51 billion, a P/E ratio of 14.67, a PEG ratio of 4.95 and a beta of 1.65. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $81.81. The business has a 50 day moving average price of $77.97 and a 200 day moving average price of $71.81.

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

ONEOK declared that its board has authorized a stock buyback program on Wednesday, January 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the utilities provider to purchase up to 4.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

ONEOK Dividend Announcement

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 paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s payout ratio is currently 71.35%.

Insider Buying and Selling at ONEOK

In related news, Director Wayne Thomas Smith purchased 2,700 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of $75.25 per share, with a total value of $203,175.00. Following the completion of the acquisition, the director now directly owns 2,700 shares in the company, valued at approximately $203,175. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on OKE. Morgan Stanley upped their price objective on ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 26th. Mizuho increased their target price on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Truist Financial lifted their target price on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. Citigroup upped their price target on shares of ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Finally, Raymond James increased their price objective on ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $82.25.

About ONEOK

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.