OmniStar Financial Group Inc. Acquires New Holdings in ONEOK, Inc. (NYSE:OKE)

OmniStar Financial Group Inc. bought a new position in shares of ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,936 shares of the utilities provider’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Peoples Bank KS purchased a new position in ONEOK in the third quarter valued at about $25,000. First Command Bank grew its position in shares of ONEOK by 401.0% in the 2nd quarter. First Command Bank now owns 491 shares of the utilities provider’s stock worth $27,000 after buying an additional 393 shares during the last quarter. Quent Capital LLC raised its stake 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 acquiring an additional 216 shares in the last quarter. Beacon Capital Management LLC boosted its stake in ONEOK by 90.7% in the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 194 shares in the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new position in ONEOK in the fourth quarter worth $29,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

OKE stock traded down $0.66 during trading on Tuesday, hitting $78.66. 2,639,066 shares of the company traded hands, compared to its average volume of 3,098,135. The stock’s 50-day simple moving average is $72.96 and its 200 day simple moving average is $69.32. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. The company has a market cap of $45.87 billion, a PE ratio of 14.17, a P/E/G ratio of 2.28 and a beta of 1.65. ONEOK, Inc. has a 1 year low of $55.91 and a 1 year high of $80.22.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates 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 quarter last year, the firm earned $1.08 earnings per share. On average, equities analysts expect that ONEOK, Inc. will post 4.98 earnings per share for the current fiscal year.

ONEOK announced that its Board of Directors has approved a stock buyback program on Wednesday, January 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the utilities provider to purchase up to 4.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th were given a $0.99 dividend. The ex-dividend date was Monday, January 29th. This is a boost from ONEOK’s previous quarterly dividend of $0.96. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.03%. ONEOK’s payout ratio is 71.35%.

Insider Activity

In other ONEOK news, Director Wayne Thomas Smith acquired 2,700 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the transaction, the director now directly owns 2,700 shares of the company’s stock, valued at $203,175. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

OKE has been the subject of several recent analyst reports. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Mizuho raised their price target on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Citigroup raised their price target on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Barclays raised their price target on ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. Finally, Truist Financial raised their price target on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK presently has an average rating of “Hold” and a consensus price target of $81.73.

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.