ONEOK, Inc. (NYSE:OKE) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. lessened its holdings in ONEOK, Inc. (NYSE:OKE) by 15.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,062 shares of the utilities provider’s stock after selling 1,314 shares during the period. Foster & Motley Inc.’s holdings in ONEOK were worth $496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. RWA Wealth Partners LLC lifted its holdings in shares of ONEOK by 22.4% in the 4th quarter. RWA Wealth Partners LLC now owns 37,141 shares of the utilities provider’s stock valued at $2,608,000 after buying an additional 6,807 shares during the period. Diversified LLC purchased a new position in shares of ONEOK in the 4th quarter valued at about $214,000. CWM LLC raised its holdings in ONEOK by 26.9% in the 4th quarter. CWM LLC now owns 36,927 shares of the utilities provider’s stock worth $2,593,000 after purchasing an additional 7,832 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its position in ONEOK by 29.0% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 15,212 shares of the utilities provider’s stock worth $1,068,000 after purchasing an additional 3,416 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of ONEOK by 25.7% in the fourth quarter. Signaturefd LLC now owns 7,932 shares of the utilities provider’s stock valued at $557,000 after buying an additional 1,621 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on OKE. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Raymond James raised their price target on shares of ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Wolfe Research upgraded ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Mizuho raised their target price on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Finally, Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $82.25.

ONEOK Price Performance

OKE stock opened at $80.95 on Thursday. The business’s fifty day moving average price is $77.39 and its 200 day moving average price is $71.47. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $81.12. The company has a market capitalization of $47.25 billion, a PE ratio of 14.59, a P/E/G ratio of 4.91 and a beta of 1.65. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29.

ONEOK (NYSE:OKE) last posted 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). The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same period in the previous year, the business posted $1.08 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 4.99 EPS for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date is Tuesday, April 30th. ONEOK’s dividend payout ratio is currently 71.35%.

ONEOK announced that its board has authorized a stock buyback plan on Wednesday, January 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the utilities provider to repurchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, Director Wayne Thomas Smith purchased 2,700 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was bought at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the purchase, the director now directly owns 2,700 shares of the company’s stock, valued at $203,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

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.