ONEOK, Inc. (NYSE:OKE) Shares Sold by Lipe & Dalton

Lipe & Dalton trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 0.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,087 shares of the utilities provider’s stock after selling 300 shares during the period. ONEOK accounts for approximately 3.0% of Lipe & Dalton’s holdings, making the stock its 7th largest holding. Lipe & Dalton’s holdings in ONEOK were worth $5,483,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OKE. Desjardins Global Asset Management Inc. increased its stake in shares of ONEOK by 2,747.0% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 6,662 shares of the utilities provider’s stock valued at $468,000 after buying an additional 6,428 shares during the period. SVB Wealth LLC increased its stake in shares of ONEOK by 6.0% in the 4th quarter. SVB Wealth LLC now owns 21,019 shares of the utilities provider’s stock valued at $1,476,000 after buying an additional 1,193 shares during the period. Flputnam Investment Management Co. increased its stake in shares of ONEOK by 9.2% in the 4th quarter. Flputnam Investment Management Co. now owns 13,837 shares of the utilities provider’s stock valued at $972,000 after buying an additional 1,171 shares during the period. Keel Point LLC acquired a new stake in shares of ONEOK in the 4th quarter valued at $259,000. Finally, Sippican Capital Advisors acquired a new stake in shares of ONEOK during the fourth quarter worth $216,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ONEOK news, Director Wayne Thomas Smith purchased 2,700 shares of the stock in a transaction on Friday, March 1st. The shares were purchased at an average price of $75.25 per share, with a total value of $203,175.00. Following the completion of the transaction, the director now directly owns 2,700 shares in the company, valued at $203,175. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

ONEOK Stock Down 1.0 %

OKE traded down $0.77 on Tuesday, hitting $77.08. 3,633,461 shares of the company were exchanged, compared to its average volume of 3,050,409. ONEOK, Inc. has a 12 month low of $55.91 and a 12 month high of $80.81. The company has a market cap of $44.99 billion, a PE ratio of 14.03, a PEG ratio of 2.27 and a beta of 1.65. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90. The stock’s fifty day moving average is $75.99 and its 200-day moving average is $70.72.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.57 billion. ONEOK had a return on equity of 22.57% and a net margin of 15.04%. During the same period last year, the firm earned $1.08 EPS. Equities research analysts predict that ONEOK, Inc. will post 4.98 EPS for the current fiscal year.

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

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, January 30th were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date was Monday, January 29th. This is an increase from ONEOK’s previous quarterly dividend of $0.96. ONEOK’s payout ratio is 71.35%.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of analyst reports. Stifel Nicolaus lifted their price objective on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday. Truist Financial lifted their price objective on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. lifted their price objective on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. Barclays lifted their price objective on ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. Finally, Mizuho lifted their target price on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, ONEOK currently has an average rating of “Hold” and an average price target of $82.25.

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.