Andrew Hill Investment Advisors Inc. Makes New $3.59 Million Investment in ONEOK, Inc. (NYSE:OKE)

Andrew Hill Investment Advisors Inc. acquired a new position in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 51,048 shares of the utilities provider’s stock, valued at approximately $3,585,000. ONEOK accounts for 3.7% of Andrew Hill Investment Advisors Inc.’s holdings, making the stock its 7th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Peoples Bank KS purchased a new stake in ONEOK in the 3rd quarter worth approximately $25,000. First Command Bank raised its position in shares of ONEOK by 401.0% in the 2nd quarter. First Command Bank now owns 491 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 393 shares in the last quarter. Beacon Capital Management LLC raised its position 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. Resurgent Financial Advisors LLC bought a new position in shares of ONEOK in the 4th quarter worth approximately $29,000. Finally, Worth Asset Management LLC bought a new position in shares of ONEOK in the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the subject of several research reports. UBS Group increased their target price on ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. US Capital Advisors lowered ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Truist Financial raised their price objective on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research report on Thursday, March 21st. Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. Finally, Mizuho raised their price objective on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $82.25.

ONEOK Stock Up 2.1 %

OKE traded up $1.64 during trading on Friday, hitting $79.52. 1,021,459 shares of the company’s stock traded hands, compared to its average volume of 3,008,011. The company’s 50 day simple moving average is $76.53 and its two-hundred day simple moving average is $70.91. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $80.81. The stock has a market capitalization of $46.41 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 4.75 and a beta of 1.65.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.03). The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations 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 prior year, the business posted $1.08 earnings per share. Analysts predict that ONEOK, Inc. will post 4.99 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.98%. ONEOK’s dividend payout ratio (DPR) is currently 71.35%.

ONEOK declared that its board has authorized a stock buyback plan on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes 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 believes its shares are undervalued.

Insider Transactions at ONEOK

In related news, Director Wayne Thomas Smith bought 2,700 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were bought at an average cost 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 $203,175. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

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.