ONEOK, Inc. (NYSE:OKE) Shares Purchased by Brighton Jones LLC

Brighton Jones LLC boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,784 shares of the utilities provider’s stock after buying an additional 434 shares during the period. Brighton Jones LLC’s holdings in ONEOK were worth $757,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Peoples Bank KS bought a new position in shares of ONEOK in the third quarter valued at approximately $25,000. Beacon Capital Management LLC raised its holdings in shares of ONEOK by 90.7% in the fourth 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. HHM Wealth Advisors LLC bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $32,000. Loomis Sayles & Co. L P increased its stake in shares of ONEOK by 605.1% in 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 period. Finally, SOA Wealth Advisors LLC. raised its holdings in 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 purchasing an additional 377 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on OKE shares. Stifel Nicolaus increased their target price on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. US Capital Advisors downgraded ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Mizuho increased their price target on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Citigroup increased their price objective on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, Truist Financial boosted their target price on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $82.25.

ONEOK Stock Down 2.8 %

OKE stock opened at $76.92 on Thursday. The firm has a 50-day moving average price of $78.19 and a 200-day moving average price of $71.91. ONEOK, Inc. has a 12 month low of $55.91 and a 12 month high of $81.81. 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 stock has a market capitalization of $44.89 billion, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 4.81 and a beta of 1.64.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 16.87%. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the prior year, the business earned $2.34 earnings per share. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.01 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders 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 yield of 5.15%. The ex-dividend date is Tuesday, April 30th. ONEOK’s payout ratio is 92.09%.

ONEOK declared that its board has initiated a share repurchase program 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at ONEOK

In related news, Director Wayne Thomas Smith bought 2,700 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was acquired at an average cost of $75.25 per share, with a total value of $203,175.00. Following the transaction, the director now directly owns 2,700 shares in the company, valued at $203,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.