ONEOK, Inc. (NYSE:OKE) Stake Raised by National Bank of Canada FI

National Bank of Canada FI lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 9.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 401,309 shares of the utilities provider’s stock after buying an additional 35,021 shares during the period. National Bank of Canada FI’s holdings in ONEOK were worth $28,706,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. FourThought Financial Partners LLC raised its position in shares of ONEOK by 3.8% during the 4th quarter. FourThought Financial Partners LLC now owns 4,386 shares of the utilities provider’s stock worth $308,000 after buying an additional 161 shares in the last quarter. TCG Advisory Services LLC raised its holdings in ONEOK by 1,938.1% during the fourth quarter. TCG Advisory Services LLC now owns 174,689 shares of the utilities provider’s stock worth $12,267,000 after purchasing an additional 166,118 shares in the last quarter. AJOVista LLC acquired a new stake in ONEOK in the fourth quarter worth approximately $237,000. Axxcess Wealth Management LLC boosted its stake in ONEOK by 48.4% during the 4th quarter. Axxcess Wealth Management LLC now owns 15,514 shares of the utilities provider’s stock valued at $1,089,000 after purchasing an additional 5,062 shares in the last quarter. Finally, Merit Financial Group LLC increased its position in shares of ONEOK by 70.7% during the 4th quarter. Merit Financial Group LLC now owns 7,463 shares of the utilities provider’s stock valued at $524,000 after purchasing an additional 3,092 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of OKE stock opened at $78.66 on Tuesday. The stock’s fifty day simple moving average is $78.44 and its 200-day simple moving average is $72.10. The company has a market capitalization of $45.91 billion, a price-to-earnings ratio of 18.15, a P/E/G ratio of 4.13 and a beta of 1.64. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $81.81.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.03. The company had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same quarter in the previous year, the business posted $2.34 EPS. On average, sell-side analysts predict that ONEOK, Inc. will post 4.95 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

ONEOK declared that its board has approved a share buyback plan on Wednesday, January 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the utilities provider to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

OKE has been the subject of several research reports. US Capital Advisors cut ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. Truist Financial boosted their target price on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. increased their target price on shares of ONEOK from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday. 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, Mizuho raised their price objective on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. 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. According to data from MarketBeat, ONEOK currently has an average rating of “Hold” and a consensus price target of $83.58.

Insider Activity

In other ONEOK news, Director Wayne Thomas Smith acquired 2,700 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average price of $75.25 per share, with a total value of $203,175.00. Following the completion of the transaction, the director now owns 2,700 shares in the company, valued at $203,175. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

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.