ONEOK, Inc. (NYSE:OKE) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 0.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 713,311 shares of the utilities provider’s stock after selling 2,404 shares during the quarter. Commonwealth Equity Services LLC’s holdings in ONEOK were worth $50,089,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Regal Investment Advisors LLC raised its position in shares of ONEOK by 3.6% in the 3rd quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock worth $294,000 after buying an additional 159 shares during the period. Hoxton Planning & Management LLC raised its holdings in shares of ONEOK by 5.0% in the 3rd quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider’s stock worth $228,000 after purchasing an additional 170 shares during the period. Monarch Capital Management Inc. lifted its stake in shares of ONEOK by 1.2% in the 4th quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock valued at $1,094,000 after purchasing an additional 183 shares in the last quarter. Arlington Trust Co LLC grew its holdings in shares of ONEOK by 27.9% during the 4th quarter. Arlington Trust Co LLC now owns 838 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 183 shares during the period. Finally, Wealthfront Advisers LLC increased its position in ONEOK by 0.3% during the 3rd quarter. Wealthfront Advisers LLC now owns 70,574 shares of the utilities provider’s stock worth $4,477,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Buying and Selling

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 acquired at an average price of $75.25 per share, with a total value of $203,175.00. Following the acquisition, the director now owns 2,700 shares in the company, valued at approximately $203,175. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

ONEOK Stock Performance

NYSE:OKE traded up $0.29 during trading hours on Friday, reaching $77.24. 2,235,452 shares of the stock were exchanged, compared to its average volume of 2,820,855. The stock has a market capitalization of $45.08 billion, a P/E ratio of 17.96, a P/E/G ratio of 4.11 and a beta of 1.64. The firm has a 50 day simple moving average of $78.25 and a 200-day simple moving average of $71.95. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $81.81.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The firm had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same period last year, the business posted $2.34 earnings per share. As a group, sell-side analysts forecast that ONEOK, Inc. will post 4.96 earnings per share for the current fiscal year.

ONEOK declared that its board has initiated a share repurchase plan on Wednesday, January 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the utilities provider to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date is Tuesday, April 30th. ONEOK’s dividend payout ratio is presently 92.09%.

Analyst Ratings Changes

Several equities analysts recently weighed in on OKE shares. Morgan Stanley lifted their target price on shares of ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, March 26th. Truist Financial increased their target price on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. Mizuho boosted their price target on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Seaport Res Ptn raised shares of ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. Finally, Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $83.58.

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.