4,152 Shares in ONEOK, Inc. (NYSE:OKE) Purchased by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC bought a new position in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,152 shares of the utilities provider’s stock, valued at approximately $292,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Regal Investment Advisors LLC increased its stake in ONEOK by 3.6% in the 3rd quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock valued at $294,000 after buying an additional 159 shares during the last quarter. Hoxton Planning & Management LLC increased its stake in ONEOK by 5.0% in the 3rd quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider’s stock valued at $228,000 after buying an additional 170 shares during the last quarter. MML Investors Services LLC increased its stake in ONEOK by 0.8% in the 2nd quarter. MML Investors Services LLC now owns 21,637 shares of the utilities provider’s stock valued at $1,335,000 after buying an additional 177 shares during the last quarter. Monarch Capital Management Inc. increased its stake in ONEOK by 1.2% in the 4th quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock valued at $1,094,000 after buying an additional 183 shares during the last quarter. Finally, Arlington Trust Co LLC increased its stake in ONEOK by 27.9% in the 4th quarter. Arlington Trust Co LLC now owns 838 shares of the utilities provider’s stock valued at $59,000 after buying an additional 183 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on OKE. JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, March 13th. Wolfe Research upgraded shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Morgan Stanley increased their price objective on shares of ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 26th. Truist Financial increased their target price on shares of ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research report on Thursday, March 21st. Finally, US Capital Advisors downgraded shares of ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. One equities 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $82.25.

ONEOK Stock Up 0.8 %

ONEOK stock opened at $77.68 on Thursday. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $80.81. The firm has a market capitalization of $45.34 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 2.22 and a beta of 1.65. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. The firm has a 50 day simple moving average of $76.35 and a 200 day simple moving average of $70.86.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). ONEOK had a net margin of 15.04% and a return on equity of 22.57%. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the prior year, the firm posted $1.08 earnings per share. On average, analysts predict that ONEOK, Inc. will post 4.98 earnings per share for the current year.

ONEOK declared that its board has approved a share repurchase plan on Wednesday, January 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the utilities provider to repurchase up to 4.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at ONEOK

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 acquired 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 of the company’s stock, valued at $203,175. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by company 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.