Livforsakringsbolaget Skandia Omsesidigt Has $95,000 Stock Position in ONEOK, Inc. (NYSE:OKE)

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 148.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,350 shares of the utilities provider’s stock after acquiring an additional 807 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in ONEOK were worth $95,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Regal Investment Advisors LLC increased its position in shares of ONEOK by 3.6% during the third quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock worth $294,000 after acquiring an additional 159 shares in the last quarter. Hoxton Planning & Management LLC grew its position in ONEOK by 5.0% in the 3rd quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider’s stock worth $228,000 after purchasing an additional 170 shares in the last quarter. MML Investors Services LLC grew its position in ONEOK by 0.8% in the 2nd quarter. MML Investors Services LLC now owns 21,637 shares of the utilities provider’s stock worth $1,335,000 after purchasing an additional 177 shares in the last quarter. Monarch Capital Management Inc. grew its position in ONEOK by 1.2% in the 4th quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock worth $1,094,000 after purchasing an additional 183 shares in the last quarter. Finally, Arlington Trust Co LLC grew its position in 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. 69.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Wayne Thomas Smith bought 2,700 shares of the stock in a transaction on Friday, March 1st. The shares were acquired at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the purchase, the director now directly owns 2,700 shares of the company’s stock, valued at approximately $203,175. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $77.88 on Friday. The stock has a market capitalization of $45.45 billion, a P/E ratio of 14.03, a PEG ratio of 4.75 and a beta of 1.65. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. The firm’s 50 day moving average is $76.53 and its 200 day moving average is $70.91. ONEOK, Inc. has a 12 month low of $55.91 and a 12 month high of $80.81.

ONEOK (NYSE:OKE) last announced its quarterly earnings results 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 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 in the previous year, the company posted $1.08 earnings per share. On average, sell-side analysts anticipate that ONEOK, Inc. will post 4.99 earnings per share for the current year.

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

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 5.08%. ONEOK’s dividend payout ratio is presently 71.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Morgan Stanley upped their price objective on shares of ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 26th. Seaport Res Ptn raised shares of ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. Truist Financial increased their target price on shares of ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. increased their target price on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, March 13th. 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 given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK has an average rating of “Hold” and a consensus target price of $82.25.

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.