Cornell Pochily Investment Advisors Inc. Has $439,000 Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Cornell Pochily Investment Advisors Inc. trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,253 shares of the utilities provider’s stock after selling 221 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in ONEOK were worth $439,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Peoples Bank KS purchased a new position in shares of ONEOK in the third quarter worth about $25,000. First Command Bank boosted its position in shares of ONEOK by 401.0% in the second quarter. First Command Bank now owns 491 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 393 shares during the period. Quent Capital LLC boosted its position in shares of ONEOK by 97.7% in the third quarter. Quent Capital LLC now owns 437 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 216 shares during the period. Beacon Capital Management LLC boosted its position in shares of ONEOK by 90.7% in the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 194 shares during the period. Finally, Resurgent Financial Advisors LLC bought a new position in shares of ONEOK in the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling at ONEOK

In other news, Director Wayne Thomas Smith purchased 2,700 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average cost of $75.25 per share, with a total value of $203,175.00. Following the completion of the acquisition, the director now directly owns 2,700 shares of the company’s stock, valued at approximately $203,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OKE shares. Bank of America upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and lifted their target price for the company from $72.00 to $83.00 in a research report on Monday, December 4th. Raymond James lifted their price target on shares of ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Truist Financial lifted their price target 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. Barclays lifted their price target on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. Finally, Seaport Res Ptn raised shares of ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $81.73.

ONEOK Stock Up 0.4 %

NYSE:OKE traded up $0.28 during mid-day trading on Thursday, hitting $79.88. 503,125 shares of the company’s stock traded hands, compared to its average volume of 3,059,751. The company has a fifty day moving average of $73.14 and a 200 day moving average of $69.42. ONEOK, Inc. has a twelve month low of $55.91 and a twelve month high of $80.22. The company has a market capitalization of $46.59 billion, a P/E ratio of 14.34, a P/E/G ratio of 2.44 and a beta of 1.65. 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 issued its earnings results on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the previous year, the company earned $1.08 EPS. On average, analysts forecast that ONEOK, Inc. will post 4.63 EPS for the current year.

ONEOK declared that its board has approved a stock buyback 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 generally an indication that the company’s management believes its stock is undervalued.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, January 30th were issued a $0.99 dividend. The ex-dividend date of this dividend was Monday, January 29th. This is a positive change from ONEOK’s previous quarterly dividend of $0.96. This represents a $3.96 dividend on an annualized basis and a yield of 4.96%. ONEOK’s dividend payout ratio (DPR) is 71.35%.

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.