ONEOK, Inc. (NYSE:OKE) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its holdings in ONEOK, Inc. (NYSE:OKE) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 150,134 shares of the utilities provider’s stock after selling 1,119 shares during the period. Amalgamated Bank’s holdings in ONEOK were worth $10,542,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Peoples Bank KS acquired a new stake in ONEOK in the 3rd quarter valued at $25,000. Beacon Capital Management LLC increased its stake in shares of ONEOK by 90.7% during 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 in the last quarter. HHM Wealth Advisors LLC acquired a new position in shares of ONEOK during the 4th quarter worth about $32,000. Loomis Sayles & Co. L P lifted its stake in ONEOK by 605.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock valued at $35,000 after buying an additional 478 shares in the last quarter. Finally, SOA Wealth Advisors LLC. boosted its holdings in ONEOK by 283.5% in the 4th quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock worth $36,000 after buying an additional 377 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ONEOK

In related news, Director Wayne Thomas Smith purchased 2,700 shares of ONEOK stock in a transaction on Friday, March 1st. The shares were bought at an average price of $75.25 per share, with a total value of $203,175.00. Following the transaction, the director now directly owns 2,700 shares of the company’s stock, valued at $203,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

ONEOK Trading Up 0.4 %

NYSE OKE traded up $0.28 on Friday, reaching $77.23. The stock had a trading volume of 2,235,558 shares, compared to its average volume of 2,820,855. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The stock has a fifty day moving average price of $78.25 and a two-hundred day moving average price of $71.95. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $81.81. The firm has a market capitalization of $45.08 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 4.11 and a beta of 1.64.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same quarter in the previous year, the business earned $2.34 EPS. As a group, sell-side analysts forecast that ONEOK, Inc. will post 4.96 EPS for the current fiscal year.

ONEOK declared that its Board of Directors has approved a share repurchase program on Wednesday, January 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the utilities provider to buy up to 4.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 5.13%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. US Capital Advisors lowered ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Friday. Barclays raised their target price on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. UBS Group upped their price target on ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, Wells Fargo & Company lifted their price objective on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday. 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $83.58.

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.