Atria Wealth Solutions Inc. Boosts Stake in ONEOK, Inc. (NYSE:OKE)

Atria Wealth Solutions Inc. increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 2.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 122,316 shares of the utilities provider’s stock after purchasing an additional 2,665 shares during the period. Atria Wealth Solutions Inc.’s holdings in ONEOK were worth $8,589,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. DAVENPORT & Co LLC boosted its position in ONEOK by 67.9% in the 3rd quarter. DAVENPORT & Co LLC now owns 39,121 shares of the utilities provider’s stock valued at $2,483,000 after buying an additional 15,819 shares during the period. Private Trust Co. NA boosted its position in ONEOK by 65.4% in the 3rd quarter. Private Trust Co. NA now owns 6,118 shares of the utilities provider’s stock valued at $388,000 after buying an additional 2,418 shares during the period. Capital Asset Advisory Services LLC boosted its position in ONEOK by 4.5% in the 3rd quarter. Capital Asset Advisory Services LLC now owns 4,943 shares of the utilities provider’s stock valued at $333,000 after buying an additional 213 shares during the period. CX Institutional boosted its position in ONEOK by 240.9% in the 3rd quarter. CX Institutional now owns 60,264 shares of the utilities provider’s stock valued at $3,823,000 after buying an additional 42,585 shares during the period. Finally, Coastline Trust Co boosted its position in ONEOK by 28.3% in the 3rd quarter. Coastline Trust Co now owns 9,682 shares of the utilities provider’s stock valued at $614,000 after buying an additional 2,137 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Seaport Res Ptn upgraded shares of ONEOK from a “neutral” rating to a “buy” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. raised their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. Citigroup raised their price objective on shares of ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Mizuho lifted their price target on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Finally, US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $82.25.

Insider Activity

In other news, Director Wayne Thomas Smith bought 2,700 shares of the stock in a transaction dated Friday, March 1st. The shares were acquired at an average price 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 $203,175. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

ONEOK Trading Up 0.0 %

NYSE OKE opened at $81.40 on Friday. 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 firm has a market cap of $47.51 billion, a PE ratio of 14.66, a P/E/G ratio of 4.94 and a beta of 1.65. ONEOK, Inc. has a one year low of $55.91 and a one year high of $81.81. The firm’s fifty day moving average is $77.60 and its two-hundred day moving average is $71.54.

ONEOK (NYSE:OKE) last posted 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). The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same quarter in the prior year, the firm posted $1.08 earnings per share. Analysts expect that ONEOK, Inc. will post 4.99 earnings per share for the current year.

ONEOK Announces Dividend

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

ONEOK announced that its board has approved a share repurchase program on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the utilities provider to reacquire up to 4.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.