Mitchell Mcleod Pugh & Williams Inc. Has $587,000 Stake in ONEOK, Inc. (NYSE:OKE)

Mitchell Mcleod Pugh & Williams Inc. reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 23.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,366 shares of the utilities provider’s stock after selling 2,601 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in ONEOK were worth $587,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OKE. Vanguard Group Inc. grew its stake in shares of ONEOK by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock valued at $3,757,405,000 after buying an additional 5,525,010 shares in the last quarter. Deutsche Bank AG grew its position in ONEOK by 37.7% in the third 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 in the last quarter. Blackstone Inc. grew its position in ONEOK by 3,478.3% in the third quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider’s stock worth $226,973,000 after acquiring an additional 3,478,316 shares in the last quarter. Invesco Ltd. increased its stake 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 purchasing an additional 3,229,046 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of ONEOK by 5,247.1% during the 4th quarter. International Assets Investment Management LLC now owns 2,463,929 shares of the utilities provider’s stock valued at $173,017,000 after purchasing an additional 2,417,849 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. UBS Group lifted their price objective on ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. US Capital Advisors downgraded ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, Morgan Stanley lifted their price target on ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 26th. 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $82.25.

Insider Buying and Selling at ONEOK

In other news, Director Wayne Thomas Smith bought 2,700 shares of the business’s stock in a transaction 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 acquisition, the director now owns 2,700 shares in the company, valued at approximately $203,175. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

ONEOK Trading Up 0.4 %

Shares of OKE stock opened at $81.41 on Tuesday. The company has a market capitalization of $47.51 billion, a P/E ratio of 14.67, a P/E/G ratio of 4.95 and a beta of 1.65. 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 12-month low of $55.91 and a 12-month high of $81.81. The firm has a 50-day moving average price of $77.97 and a 200 day moving average price of $71.81.

ONEOK (NYSE:OKE) last announced its earnings results 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 company had revenue of $5.24 billion for the quarter, compared to analyst estimates 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 company posted $1.08 earnings per share. Research analysts forecast that ONEOK, Inc. will post 4.99 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a dividend of $0.99 per share. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.86%. ONEOK’s dividend payout ratio (DPR) is presently 71.35%.

ONEOK announced that its Board of Directors has approved a stock repurchase program 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 programs are generally a sign that the company’s board believes its stock is 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.