Twelve Points Wealth Management LLC Buys 1,154 Shares of ONEOK, Inc. (NYSE:OKE)

Twelve Points Wealth Management LLC boosted its stake in ONEOK, Inc. (NYSE:OKE) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,717 shares of the utilities provider’s stock after acquiring an additional 1,154 shares during the period. Twelve Points Wealth Management LLC’s holdings in ONEOK were worth $1,525,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Peoples Bank KS bought a new position in shares of ONEOK during the 3rd quarter worth approximately $25,000. Beacon Capital Management LLC boosted its holdings in shares of ONEOK by 90.7% during the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after buying an additional 194 shares in the last quarter. Quent Capital LLC boosted its holdings in shares of ONEOK by 97.7% during the 3rd quarter. Quent Capital LLC now owns 437 shares of the utilities provider’s stock worth $28,000 after buying an additional 216 shares in the last quarter. Resurgent Financial Advisors LLC bought a new position in shares of ONEOK during the 4th quarter worth approximately $29,000. Finally, Worth Asset Management LLC acquired a new position in shares of ONEOK during the first quarter worth approximately $30,000. 68.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OKE. JPMorgan Chase & Co. upped their target price on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Bank of America raised ONEOK from a “neutral” rating to a “buy” rating and increased their price target for the company from $72.00 to $83.00 in a research report on Monday, December 4th. Truist Financial raised their target price on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $81.40.

Insider Activity

In other ONEOK news, Director Wayne Thomas Smith bought 2,700 shares of ONEOK stock in a transaction dated 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 completion of the purchase, the director now owns 2,700 shares of the company’s stock, valued at $203,175. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.65% of the company’s stock.

ONEOK Price Performance

NYSE:OKE traded down $0.45 during mid-day trading on Friday, reaching $79.02. The stock had a trading volume of 2,405,928 shares, compared to its average volume of 3,115,758. The firm has a 50 day moving average price of $72.62 and a two-hundred day moving average price of $69.06. The stock has a market capitalization of $46.08 billion, a P/E ratio of 14.24, a P/E/G ratio of 2.27 and a beta of 1.65. ONEOK, Inc. has a one year low of $55.91 and a one year high of $79.89. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90.

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

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, January 30th were given a $0.99 dividend. The ex-dividend date of this dividend was Monday, January 29th. This represents a $3.96 annualized dividend and a yield of 5.01%. This is an increase from ONEOK’s previous quarterly dividend of $0.96. ONEOK’s payout ratio is presently 71.35%.

ONEOK announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the utilities provider to purchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.