ONEOK, Inc. (NYSE:OKE) Shares Bought by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt raised its stake in ONEOK, Inc. (NYSE:OKE) by 148.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,350 shares of the utilities provider’s stock after buying an additional 807 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in ONEOK were worth $95,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Daiwa Securities Group Inc. increased its stake in ONEOK by 41.0% during the fourth 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 during the period. Tyche Wealth Partners LLC purchased a new position in ONEOK in the fourth quarter valued at approximately $292,000. Avior Wealth Management LLC increased its stake in ONEOK by 1.3% in the fourth quarter. Avior Wealth Management LLC now owns 39,365 shares of the utilities provider’s stock valued at $2,764,000 after purchasing an additional 514 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in ONEOK by 21.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 104,559 shares of the utilities provider’s stock valued at $7,342,000 after purchasing an additional 18,194 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. increased its stake in ONEOK by 2,747.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 6,662 shares of the utilities provider’s stock valued at $468,000 after purchasing an additional 6,428 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ONEOK

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

ONEOK Trading Up 0.3 %

NYSE:OKE opened at $77.88 on Friday. The stock has a fifty day simple moving average of $76.53 and a 200-day simple moving average of $70.91. ONEOK, Inc. has a 52-week low of $55.91 and a 52-week high of $80.81. The company has a market capitalization of $45.45 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 4.75 and a beta of 1.65. 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 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). ONEOK had a net margin of 15.04% and a return on equity of 22.57%. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the firm posted $1.08 EPS. On average, equities research analysts expect that ONEOK, Inc. will post 4.99 earnings per share for the current fiscal year.

ONEOK declared that its board has approved a share buyback plan on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the utilities provider to reacquire up to 4.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

ONEOK Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 5.08%. ONEOK’s payout ratio is 71.35%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Stifel Nicolaus increased their price target on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday. Raymond James raised their target price on shares of ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Wolfe Research upgraded shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Seaport Res Ptn upgraded shares of ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. Finally, US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $82.25.

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.