Everpar Advisors LLC Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Everpar Advisors LLC bought a new stake in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 55,160 shares of the utilities provider’s stock, valued at approximately $3,873,000. ONEOK comprises 1.8% of Everpar Advisors LLC’s holdings, making the stock its 4th biggest holding.

Several other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp increased its position in ONEOK by 16.2% during the fourth quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock worth $1,531,000 after acquiring an additional 3,032 shares during the period. Kestra Private Wealth Services LLC raised its position in shares of ONEOK by 26.6% during the fourth quarter. Kestra Private Wealth Services LLC now owns 24,568 shares of the utilities provider’s stock valued at $1,725,000 after buying an additional 5,167 shares during the last quarter. ELCO Management Co. LLC lifted its stake in shares of ONEOK by 102.3% in the third quarter. ELCO Management Co. LLC now owns 26,432 shares of the utilities provider’s stock valued at $1,677,000 after buying an additional 13,367 shares during the period. Federated Hermes Inc. grew its position in ONEOK by 31.6% during the fourth quarter. Federated Hermes Inc. now owns 160,596 shares of the utilities provider’s stock worth $11,277,000 after buying an additional 38,560 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake in ONEOK by 11.4% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,729 shares of the utilities provider’s stock valued at $490,000 after acquiring an additional 790 shares during the period. Institutional investors own 69.13% of the company’s stock.

Insider Transactions at ONEOK

In other news, Director Wayne Thomas Smith acquired 2,700 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were purchased at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the transaction, the director now owns 2,700 shares of the company’s stock, valued at $203,175. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

ONEOK Price Performance

Shares of OKE traded up $0.77 on Wednesday, hitting $79.14. The company’s stock had a trading volume of 2,228,498 shares, compared to its average volume of 2,973,266. The company has a 50 day moving average price of $78.52 and a 200 day moving average price of $72.18. ONEOK, Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $81.81. The company has a market capitalization of $46.19 billion, a PE ratio of 18.40, a PEG ratio of 4.13 and a beta of 1.64. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The company had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the firm earned $2.34 earnings per share. On average, research analysts anticipate that ONEOK, Inc. will post 4.95 earnings per share for the current fiscal year.

ONEOK declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the utilities provider to buy up to 4.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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 $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date is Tuesday, April 30th. ONEOK’s dividend payout ratio is presently 92.09%.

Analyst Ratings Changes

OKE has been the topic of several recent research reports. Truist Financial lifted their price objective on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Morgan Stanley boosted their price target on shares of ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, March 26th. Stifel Nicolaus raised their price objective on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Finally, Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $83.58.

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.