Calamos Advisors LLC Has $10.07 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Calamos Advisors LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 143,466 shares of the utilities provider’s stock after selling 1,441 shares during the quarter. Calamos Advisors LLC’s holdings in ONEOK were worth $10,074,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of OKE. Peoples Bank KS acquired a new position in ONEOK during the 3rd quarter valued at $25,000. First Command Bank raised its stake in ONEOK by 401.0% during the 2nd quarter. First Command Bank now owns 491 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 393 shares during the last quarter. Beacon Capital Management LLC raised its stake in ONEOK by 90.7% during the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 194 shares during the last quarter. Resurgent Financial Advisors LLC acquired a new position in ONEOK during the 4th quarter valued at $29,000. Finally, Worth Asset Management LLC acquired a new position in ONEOK during the 1st quarter valued at $30,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on OKE. Morgan Stanley boosted their price target 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. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Raymond James boosted their price target on shares of ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, Barclays boosted their price target on shares of ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $82.25.

Insider Transactions at ONEOK

In other news, Director Wayne Thomas Smith bought 2,700 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was bought at an average price of $75.25 per share, with a total value of $203,175.00. Following the completion of the acquisition, the director now owns 2,700 shares of the company’s stock, valued at $203,175. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

ONEOK Price Performance

NYSE:OKE opened at $79.63 on Friday. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $80.81. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. The firm has a fifty day simple moving average of $76.74 and a 200 day simple moving average of $71.03. The stock has a market capitalization of $46.48 billion, a PE ratio of 14.35, a P/E/G ratio of 4.76 and a beta of 1.65.

ONEOK (NYSE:OKE) last announced its quarterly 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 net margin of 15.04% and a return on equity of 22.57%. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the business earned $1.08 EPS. On average, research analysts expect 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 issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio is currently 71.35%.

ONEOK declared that its board has approved a share buyback plan on Wednesday, January 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the utilities provider to buy up to 4.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.