Stockman Wealth Management Inc. Sells 1,400 Shares of ONEOK, Inc. (NYSE:OKE)

Stockman Wealth Management Inc. lessened its stake in ONEOK, Inc. (NYSE:OKE) by 11.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,600 shares of the utilities provider’s stock after selling 1,400 shares during the quarter. Stockman Wealth Management Inc.’s holdings in ONEOK were worth $744,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of OKE. Vanguard Group Inc. grew its position in shares of ONEOK by 10.3% during 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 purchasing 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. grew its position in ONEOK by 65.9% in the third quarter. Invesco Ltd. now owns 8,132,301 shares of the utilities provider’s stock worth $515,832,000 after acquiring an additional 3,229,046 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in ONEOK by 5,247.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,463,929 shares of the utilities provider’s stock worth $173,017,000 after acquiring an additional 2,417,849 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on OKE. Morgan Stanley upped their price target on shares of ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 26th. Mizuho raised their price objective on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. Barclays raised their price objective on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. Finally, UBS Group raised their price objective on ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. One investment 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, ONEOK presently has a consensus rating of “Hold” and a consensus price target of $82.25.

ONEOK Stock Up 0.3 %

OKE traded up $0.27 on Monday, hitting $79.90. The company had a trading volume of 2,566,888 shares, compared to its average volume of 3,025,442. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. ONEOK, Inc. has a 52-week low of $55.91 and a 52-week high of $80.84. The stock has a fifty day simple moving average of $76.94 and a 200-day simple moving average of $71.29. The firm has a market capitalization of $46.63 billion, a P/E ratio of 14.40, a P/E/G ratio of 4.87 and a beta of 1.65.

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

ONEOK declared that its Board of Directors has authorized a share buyback plan on Wednesday, January 17th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the utilities provider to buy 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.99 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 4.96%. ONEOK’s dividend payout ratio (DPR) is presently 71.35%.

About ONEOK

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.