ONEOK, Inc. (NYSE:OKE) Shares Acquired by Herold Advisors Inc.

Herold Advisors Inc. lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,657 shares of the utilities provider’s stock after buying an additional 403 shares during the period. ONEOK makes up about 0.9% of Herold Advisors Inc.’s investment portfolio, making the stock its 27th largest holding. Herold Advisors Inc.’s holdings in ONEOK were worth $3,276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in OKE. Peoples Bank KS acquired a new position in shares of ONEOK during the third quarter worth approximately $25,000. Beacon Capital Management LLC lifted its position in ONEOK by 90.7% in the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 194 shares during the period. Loomis Sayles & Co. L P lifted its position in ONEOK by 605.1% in the third quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 478 shares during the period. SOA Wealth Advisors LLC. lifted its position in ONEOK by 283.5% in the fourth quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 377 shares during the period. Finally, Moisand Fitzgerald Tamayo LLC lifted its position in ONEOK by 1,690.9% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 591 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 558 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Price Performance

OKE opened at $81.06 on Friday. The stock has a fifty day moving average of $77.78 and a 200-day moving average of $71.65. The firm has a market capitalization of $47.31 billion, a P/E ratio of 14.61, a PEG ratio of 4.97 and a beta of 1.65. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $81.81. 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 announced its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) 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 firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the prior year, the business posted $1.08 earnings per share. Equities analysts forecast that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 annualized dividend and a dividend yield of 4.89%. ONEOK’s dividend payout ratio is 71.35%.

ONEOK declared that its board has approved 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 repurchase up to 4.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. Morgan Stanley upped their price target on ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, March 26th. Citigroup increased 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. Barclays increased their price objective on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. Finally, Raymond James increased their price objective on ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $82.25.

Insider Buying and Selling

In other news, Director Wayne Thomas Smith acquired 2,700 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was acquired at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the acquisition, the director now owns 2,700 shares in the company, valued at $203,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

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.