Clearstead Trust LLC reduced its position in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 54.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,841 shares of the utilities provider’s stock after selling 3,355 shares during the period. Clearstead Trust LLC’s holdings in ONEOK were worth $199,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also modified their holdings of OKE. Peoples Bank KS acquired a new position in ONEOK in the 3rd quarter valued at about $25,000. Beacon Capital Management LLC grew 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 purchasing an additional 194 shares in the last quarter. HHM Wealth Advisors LLC purchased a new stake in ONEOK during the 4th quarter worth approximately $32,000. Loomis Sayles & Co. L P lifted its holdings in ONEOK by 605.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock worth $35,000 after buying an additional 478 shares in the last quarter. Finally, SOA Wealth Advisors LLC. boosted its position in ONEOK by 283.5% in the 4th quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock valued at $36,000 after buying an additional 377 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.
ONEOK Stock Performance
OKE stock traded up $0.28 during trading on Friday, hitting $77.23. The company had a trading volume of 2,235,558 shares, compared to its average volume of 2,820,855. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $81.81. The firm has a 50-day moving average price of $78.34 and a 200-day moving average price of $72.04. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The firm has a market cap of $45.08 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 4.13 and a beta of 1.64.
ONEOK declared that its board has authorized a stock repurchase program on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the utilities provider to reacquire up to 4.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
ONEOK Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given 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 5.13%. ONEOK’s payout ratio is 92.09%.
Insider Transactions at ONEOK
In other news, Director Wayne Thomas Smith acquired 2,700 shares of ONEOK stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average cost of $75.25 per share, with a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on OKE shares. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Wolfe Research upgraded shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. 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 note on Tuesday, February 27th. Citigroup upped their price objective on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research 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 research note on Thursday, March 21st. 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $83.58.
Check Out Our Latest Stock Report on ONEOK
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.
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