Headlands Technologies LLC Invests $1.15 Million in ONEOK, Inc. (NYSE:OKE)

Headlands Technologies LLC acquired a new position in ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,352 shares of the utilities provider’s stock, valued at approximately $1,148,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of ONEOK by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after purchasing an additional 5,525,010 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of ONEOK by 37.7% in the 3rd quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock worth $843,133,000 after purchasing an additional 3,636,660 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of ONEOK by 9.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,255,430 shares of the utilities provider’s stock worth $650,502,000 after purchasing an additional 889,110 shares in the last quarter. Morgan Stanley lifted its stake in shares of ONEOK by 20.3% in the 3rd quarter. Morgan Stanley now owns 8,660,013 shares of the utilities provider’s stock valued at $549,305,000 after acquiring an additional 1,458,392 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of ONEOK by 65.9% in the 3rd quarter. Invesco Ltd. now owns 8,132,301 shares of the utilities provider’s stock valued at $515,832,000 after acquiring an additional 3,229,046 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Down 0.4 %

Shares of NYSE:OKE opened at $81.06 on Friday. ONEOK, Inc. has a 52-week low of $55.91 and a 52-week high of $81.81. The firm has a market capitalization of $47.31 billion, a P/E ratio of 14.61, a P/E/G ratio of 4.95 and a beta of 1.65. The stock has a 50 day moving average price of $77.78 and a 200-day moving average price of $71.68. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90.

ONEOK (NYSE:OKE) last announced its earnings results 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). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the company posted $1.08 EPS. As a group, equities research analysts anticipate that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

ONEOK Announces Dividend

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

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on OKE shares. Raymond James boosted their target price on ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Barclays boosted their target price on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. Stifel Nicolaus boosted their target price on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. Finally, UBS Group boosted their target price on ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $82.25.

Insider Transactions at ONEOK

In related news, Director Wayne Thomas Smith purchased 2,700 shares of the business’s 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 purchase, the director now directly 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 can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.