Herold Advisors Inc. Acquires 403 Shares of ONEOK, Inc. (NYSE:OKE)

Herold Advisors Inc. grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 0.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 46,657 shares of the utilities provider’s stock after purchasing an additional 403 shares during the period. ONEOK comprises approximately 0.9% of Herold Advisors Inc.’s holdings, making the stock its 27th largest holding. Herold Advisors Inc.’s holdings in ONEOK were worth $3,276,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OKE. Peoples Bank KS acquired a new position in shares of ONEOK during the 3rd quarter worth about $25,000. Beacon Capital Management LLC increased its stake in shares of ONEOK by 90.7% during the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 194 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of ONEOK by 605.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 478 shares during the last quarter. SOA Wealth Advisors LLC. increased its stake in shares of ONEOK by 283.5% during the 4th quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 377 shares during the last quarter. Finally, Moisand Fitzgerald Tamayo LLC increased its stake in shares of ONEOK by 1,690.9% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 591 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 558 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. Morgan Stanley upped their price target 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. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Mizuho upped their price target 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, Stifel Nicolaus upped 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, April 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $82.25.

Insiders Place Their Bets

In related news, Director Wayne Thomas Smith purchased 2,700 shares of ONEOK stock in a transaction 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 completion of the acquisition, the director now owns 2,700 shares of the company’s stock, valued at approximately $203,175. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

ONEOK Trading Down 0.4 %

OKE opened at $81.06 on Friday. ONEOK, Inc. has a twelve month low of $55.91 and a twelve month high of $81.81. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. The company has a fifty day moving average of $77.78 and a 200-day moving average of $71.65. The stock has a market cap of $47.31 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 4.97 and a beta of 1.65.

ONEOK (NYSE:OKE) last posted its quarterly earnings data 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 return on equity of 22.57% and a net margin of 15.04%. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the company earned $1.08 earnings per share. On average, sell-side analysts predict that ONEOK, Inc. will post 4.99 EPS for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s payout ratio is 71.35%.

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

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.