51,048 Shares in ONEOK, Inc. (NYSE:OKE) Acquired by Andrew Hill Investment Advisors Inc.

Andrew Hill Investment Advisors Inc. acquired a new position in ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 51,048 shares of the utilities provider’s stock, valued at approximately $3,585,000. ONEOK makes up about 3.7% of Andrew Hill Investment Advisors Inc.’s holdings, making the stock its 7th largest holding.

A number of other large investors also recently bought and sold shares of OKE. Peoples Bank KS acquired a new position in shares of ONEOK during the third quarter worth $25,000. Beacon Capital Management LLC increased its position in shares of ONEOK by 90.7% during the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 194 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new position in shares of ONEOK during the fourth quarter worth $29,000. Worth Asset Management LLC acquired a new position in shares of ONEOK during the first quarter worth $30,000. Finally, Quarry LP acquired a new position in shares of ONEOK during the first quarter worth $31,000. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on OKE shares. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Wolfe Research raised ONEOK from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Raymond James upped their target price on ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Barclays upped their target price on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. Finally, Stifel Nicolaus upped their target price on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $82.25.

ONEOK Price Performance

Shares of OKE stock traded up $1.64 during mid-day trading on Friday, hitting $79.52. 1,021,459 shares of the stock were exchanged, compared to its average volume of 3,008,011. The firm has a fifty day moving average of $76.53 and a 200 day moving average of $70.91. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. ONEOK, Inc. has a 52-week low of $55.91 and a 52-week high of $80.81. The company has a market cap of $46.41 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 4.75 and a beta of 1.65.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.03). The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.57 billion. ONEOK had a return on equity of 22.57% and a net margin of 15.04%. During the same period in the previous year, the company earned $1.08 earnings per share. Research analysts anticipate that ONEOK, Inc. will post 4.99 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors 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 yield of 4.98%. ONEOK’s dividend payout ratio is presently 71.35%.

ONEOK announced that its board has approved a share buyback plan on Wednesday, January 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the utilities provider to buy up to 4.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at ONEOK

In related news, Director Wayne Thomas Smith purchased 2,700 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average cost of $75.25 per share, with a total value of $203,175.00. Following the purchase, the director now owns 2,700 shares of the company’s stock, valued at approximately $203,175. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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.