Headlands Technologies LLC Takes $1.15 Million Position in ONEOK, Inc. (NYSE:OKE)

Headlands Technologies LLC acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the fourth quarter, HoldingsChannel reports. The firm acquired 16,352 shares of the utilities provider’s stock, valued at approximately $1,148,000.

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

Analyst Ratings Changes

Several research firms recently commented on OKE. Morgan Stanley lifted their price target 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 boosted their target price on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. JPMorgan Chase & Co. boosted their target price on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, March 13th. Citigroup boosted their target price on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Finally, Seaport Res Ptn upgraded ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. One 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $82.25.

ONEOK Stock Performance

ONEOK stock opened at $81.06 on Friday. The company has a 50 day moving average price of $77.78 and a 200-day moving average price of $71.68. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90. ONEOK, Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $81.81. The company has a market capitalization of $47.31 billion, a PE ratio of 14.61, a P/E/G ratio of 4.95 and a beta of 1.65.

ONEOK (NYSE:OKE) last issued 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 the consensus estimate of $5.57 billion. ONEOK had a return on equity of 22.57% and a net margin of 15.04%. During the same period last year, the firm earned $1.08 EPS. As a group, equities analysts forecast that ONEOK, Inc. will post 4.99 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed 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 4.89%. The ex-dividend date is Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is 71.35%.

ONEOK declared that its Board of Directors has initiated a share repurchase 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 an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other ONEOK news, Director Wayne Thomas Smith acquired 2,700 shares of ONEOK stock in a transaction that occurred on Friday, March 1st. The stock was bought at an average price of $75.25 per share, with a total value of $203,175.00. Following the completion of the purchase, the director now directly owns 2,700 shares of the company’s stock, valued at approximately $203,175. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by 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.