Capital Advisors Ltd. LLC Has $225,000 Stake in ONEOK, Inc. (NYSE:OKE)

Capital Advisors Ltd. LLC trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 16.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,198 shares of the utilities provider’s stock after selling 630 shares during the period. Capital Advisors Ltd. LLC’s holdings in ONEOK were worth $225,000 as of its most recent SEC filing.

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

ONEOK Trading Up 0.4 %

NYSE OKE traded up $0.29 during trading on Thursday, reaching $81.24. 701,942 shares of the stock traded hands, compared to its average volume of 2,974,614. The firm has a market cap of $47.41 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 4.91 and a beta of 1.65. The stock’s 50-day moving average price is $77.39 and its 200 day moving average price is $71.47. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. ONEOK, Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $81.24.

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

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is presently 71.35%.

ONEOK announced that its Board of Directors has approved a share buyback program on Wednesday, January 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the utilities provider to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on OKE shares. Barclays raised their price objective on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. Seaport Res Ptn raised shares of ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. Citigroup boosted their target price on shares of ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. UBS Group lifted their price target on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, 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 report on Thursday, March 21st. One 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’s stock. According to MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and an average price target of $82.25.

Insider Activity

In related news, Director Wayne Thomas Smith purchased 2,700 shares of ONEOK stock in a transaction dated Friday, March 1st. The stock was bought at an average price of $75.25 per share, for a total transaction 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 $203,175. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.