Foster & Motley Inc. Sells 1,314 Shares of ONEOK, Inc. (NYSE:OKE)

Foster & Motley Inc. lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 15.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,062 shares of the utilities provider’s stock after selling 1,314 shares during the quarter. Foster & Motley Inc.’s holdings in ONEOK were worth $496,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in OKE. Peoples Bank KS purchased a new position in ONEOK in the third quarter valued at approximately $25,000. Beacon Capital Management LLC lifted its position in shares of 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 buying an additional 194 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in shares of ONEOK by 605.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock valued at $35,000 after buying an additional 478 shares during the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of ONEOK by 283.5% during the 4th quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 377 shares during the period. Finally, Moisand Fitzgerald Tamayo LLC increased its holdings in ONEOK by 1,690.9% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 591 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 558 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE OKE opened at $80.95 on Thursday. The company has a fifty day moving average of $77.39 and a 200-day moving average of $71.47. ONEOK, Inc. has a 52-week low of $55.91 and a 52-week high of $81.12. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90. The company has a market capitalization of $47.25 billion, a P/E ratio of 14.59, a P/E/G ratio of 4.91 and a beta of 1.65.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.57 billion. ONEOK had a return on equity of 22.57% and a net margin of 15.04%. During the same quarter in the previous year, the firm earned $1.08 EPS. As a group, equities research analysts predict that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

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

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 4.89%. ONEOK’s dividend payout ratio (DPR) is currently 71.35%.

Insider Buying and Selling at ONEOK

In other news, Director Wayne Thomas Smith acquired 2,700 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were purchased at an average price 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on OKE shares. Truist Financial upped their price objective on shares of ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, March 21st. Stifel Nicolaus boosted their target price on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Barclays lifted their price target on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. Morgan Stanley raised their target price on ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 26th. Finally, Wolfe Research upgraded 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 given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $82.25.

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.