Larson Financial Group LLC Reduces Stock Position in ONEOK, Inc. (NYSE:OKE)

Larson Financial Group LLC cut its stake in ONEOK, Inc. (NYSE:OKE) by 2.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,399 shares of the utilities provider’s stock after selling 847 shares during the quarter. Larson Financial Group LLC’s holdings in ONEOK were worth $1,994,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Peoples Bank KS bought a new position in shares of ONEOK in the 3rd quarter worth about $25,000. Beacon Capital Management LLC increased its stake in shares of ONEOK by 90.7% in the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 194 shares in the last quarter. SOA Wealth Advisors LLC. increased its stake in shares of 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 acquiring an additional 377 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in shares of ONEOK by 605.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 478 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC increased its stake in shares of ONEOK by 1,690.9% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 591 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 558 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Insider Activity

In other ONEOK news, Director Wayne Thomas Smith purchased 2,700 shares of ONEOK stock in a transaction that occurred on Friday, March 1st. The shares were bought at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the transaction, the director now owns 2,700 shares of the company’s stock, valued at approximately $203,175. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on OKE. Wolfe Research upgraded shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Stifel Nicolaus raised their price objective on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Truist Financial raised their price objective on shares of ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. Mizuho raised their price objective on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Finally, Raymond James raised their price objective on shares of ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $82.25.

ONEOK Price Performance

NYSE:OKE traded up $0.42 during trading hours on Tuesday, hitting $80.33. 568,397 shares of the stock traded hands, compared to its average volume of 2,997,213. 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, Inc. has a 1 year low of $55.91 and a 1 year high of $80.84. The company has a market cap of $46.88 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 4.87 and a beta of 1.65. The stock has a 50 day moving average price of $76.94 and a 200 day moving average price of $71.29.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.03). The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same quarter in the previous year, the business earned $1.08 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

ONEOK announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the utilities provider to reacquire up to 4.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.93%. The ex-dividend date is Tuesday, April 30th. ONEOK’s payout ratio is currently 71.35%.

ONEOK 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.