Kovack Advisors Inc. Acquires 231 Shares of ONEOK, Inc. (NYSE:OKE)

Kovack Advisors Inc. grew its position in ONEOK, Inc. (NYSE:OKE) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,155 shares of the utilities provider’s stock after acquiring an additional 231 shares during the quarter. Kovack Advisors Inc.’s holdings in ONEOK were worth $713,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Regal Investment Advisors LLC boosted its stake in ONEOK by 3.6% during the 3rd quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock valued at $294,000 after purchasing an additional 159 shares during the last quarter. Hoxton Planning & Management LLC boosted its stake in shares of ONEOK by 5.0% in the 3rd quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider’s stock worth $228,000 after buying an additional 170 shares during the last quarter. Monarch Capital Management Inc. raised its holdings in shares of ONEOK by 1.2% in the 4th quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock worth $1,094,000 after purchasing an additional 183 shares during the period. Arlington Trust Co LLC raised its holdings in shares of ONEOK by 27.9% in the 4th quarter. Arlington Trust Co LLC now owns 838 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 183 shares during the period. Finally, Wealthfront Advisers LLC raised its holdings in shares of ONEOK by 0.3% in the 3rd quarter. Wealthfront Advisers LLC now owns 70,574 shares of the utilities provider’s stock worth $4,477,000 after purchasing an additional 190 shares during the period. Institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling

In related news, Director Wayne Thomas Smith bought 2,700 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on OKE shares. Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Barclays boosted their target price 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. 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. UBS Group boosted their target price on shares of ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, Truist Financial boosted their target price on shares of ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $82.25.

ONEOK Trading Down 0.4 %

ONEOK stock opened at $81.06 on Friday. The stock has a market cap of $47.31 billion, a P/E ratio of 14.61, a PEG ratio of 4.95 and a beta of 1.65. ONEOK, Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $81.81. The firm’s fifty day moving average price is $77.78 and its 200-day moving average price is $71.68. 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 released its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate 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 period in the previous year, the company posted $1.08 EPS. Equities research analysts forecast that ONEOK, Inc. will post 4.99 earnings per share for the current fiscal year.

ONEOK declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the utilities provider to purchase up to 4.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

ONEOK Announces Dividend

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