Larson Financial Group LLC Trims Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Larson Financial Group LLC cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,399 shares of the utilities provider’s stock after selling 847 shares during the quarter. Larson Financial Group LLC’s holdings in ONEOK were worth $1,994,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of ONEOK by 10.3% in the 3rd 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 period. Deutsche Bank AG grew its stake in ONEOK by 37.7% during the 3rd quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock valued at $843,133,000 after purchasing an additional 3,636,660 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in ONEOK by 9.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,255,430 shares of the utilities provider’s stock valued at $650,502,000 after purchasing an additional 889,110 shares in the last quarter. Morgan Stanley grew its position in shares of ONEOK by 20.3% in the 3rd quarter. Morgan Stanley now owns 8,660,013 shares of the utilities provider’s stock worth $549,305,000 after acquiring an additional 1,458,392 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of ONEOK by 65.9% in the 3rd quarter. Invesco Ltd. now owns 8,132,301 shares of the utilities provider’s stock worth $515,832,000 after acquiring an additional 3,229,046 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OKE has been the subject of a number of analyst reports. Citigroup boosted their price objective on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Stifel Nicolaus boosted their price objective on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. Truist Financial lifted their target price on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. lifted their target price on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. One 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $82.25.

Insider Buying and Selling at ONEOK

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the stock in a transaction dated Friday, March 1st. The shares were bought at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the purchase, the director now owns 2,700 shares in the company, valued at approximately $203,175. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.20% of the company’s stock.

ONEOK Stock Up 0.5 %

Shares of NYSE:OKE traded up $0.42 on Tuesday, reaching $80.33. The company had a trading volume of 568,397 shares, compared to its average volume of 2,997,213. ONEOK, Inc. has a twelve month low of $55.91 and a twelve month high of $80.84. The stock has a 50-day moving average price of $76.94 and a 200 day moving average price of $71.29. The stock has a market capitalization of $46.88 billion, a P/E ratio of 14.40, a P/E/G ratio of 4.87 and a beta of 1.65. 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 (NYSE:OKE) last posted its quarterly earnings data 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 return on equity of 22.57% and a net margin of 15.04%. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the firm posted $1.08 EPS. On average, equities analysts expect that ONEOK, Inc. will post 4.99 EPS for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 4.93%. ONEOK’s dividend payout ratio (DPR) is 71.35%.

ONEOK announced that its board has approved a share 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 repurchase up to 4.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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.