First National Bank & Trust Co. of Newtown Buys Shares of 2,904 ONEOK, Inc. (NYSE:OKE)

First National Bank & Trust Co. of Newtown purchased a new stake in ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,904 shares of the utilities provider’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Andrew Hill Investment Advisors Inc. bought a new stake in shares of ONEOK in the 4th quarter valued at about $3,585,000. Fidelis Capital Partners LLC increased its stake in shares of ONEOK by 9.6% in the 4th quarter. Fidelis Capital Partners LLC now owns 6,238 shares of the utilities provider’s stock valued at $438,000 after acquiring an additional 548 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of ONEOK by 31.6% in the 4th quarter. Federated Hermes Inc. now owns 160,596 shares of the utilities provider’s stock valued at $11,277,000 after acquiring an additional 38,560 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of ONEOK by 148.6% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,350 shares of the utilities provider’s stock valued at $95,000 after acquiring an additional 807 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in ONEOK by 41.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 76,527 shares of the utilities provider’s stock worth $5,374,000 after purchasing an additional 22,239 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

ONEOK Stock Performance

NYSE:OKE traded up $1.64 during trading on Friday, reaching $79.52. The company’s stock had a trading volume of 1,021,459 shares, compared to its average volume of 3,008,011. The firm has a market cap of $46.41 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 4.75 and a beta of 1.65. 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 50 day moving average of $76.53 and a 200-day moving average of $70.91. ONEOK, Inc. has a 12 month low of $55.91 and a 12 month high of $80.81.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.03). The firm had revenue of $5.24 billion for 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 quarter in the previous year, the company posted $1.08 EPS. Research analysts expect that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

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

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 4.98%. ONEOK’s dividend payout ratio is currently 71.35%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays increased their target price on ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. Raymond James increased their price objective on ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 19th. JPMorgan Chase & Co. increased their price objective on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. Citigroup increased their price objective on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, UBS Group increased their price objective on ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, ONEOK currently has an average rating of “Hold” and a consensus price target of $82.25.

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.