Kestra Private Wealth Services LLC Has $1.73 Million Position in ONEOK, Inc. (NYSE:OKE)

Kestra Private Wealth Services LLC raised its position in ONEOK, Inc. (NYSE:OKE) by 26.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,568 shares of the utilities provider’s stock after acquiring an additional 5,167 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in ONEOK were worth $1,725,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of OKE. Peoples Bank KS bought a new position in shares of ONEOK in the third quarter valued at about $25,000. Beacon Capital Management LLC increased its holdings in ONEOK by 90.7% in the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after buying an additional 194 shares during the period. HHM Wealth Advisors LLC bought a new position in ONEOK in the 4th quarter valued at about $32,000. Loomis Sayles & Co. L P increased its holdings in ONEOK by 605.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock valued at $35,000 after buying an additional 478 shares during the period. Finally, SOA Wealth Advisors LLC. increased its holdings 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.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OKE. JPMorgan Chase & Co. lifted their price target on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Truist Financial lifted their price target on shares of ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, March 21st. Mizuho lifted their price target on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Finally, Wells Fargo & Company boosted their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday. 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $83.25.

ONEOK Trading Up 0.0 %

NYSE:OKE opened at $76.95 on Friday. The firm’s fifty day moving average is $78.25 and its 200-day moving average is $71.95. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.67 and a current ratio of 0.70. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $81.81. The firm has a market cap of $44.91 billion, a P/E ratio of 17.90, a P/E/G ratio of 4.70 and a beta of 1.64.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The company had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period in the prior year, the firm posted $2.34 EPS. Equities analysts expect that ONEOK, Inc. will post 4.99 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders 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 5.15%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio is currently 92.09%.

ONEOK announced that its Board of Directors has approved 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 buy up to 4.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at ONEOK

In related news, Director Wayne Thomas Smith bought 2,700 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were bought at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the transaction, 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 can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

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.