32,892 Shares in ONEOK, Inc. (NYSE:OKE) Acquired by RIA Advisory Group LLC

RIA Advisory Group LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 32,892 shares of the utilities provider’s stock, valued at approximately $2,310,000. ONEOK makes up about 0.7% of RIA Advisory Group LLC’s investment portfolio, making the stock its 23rd biggest position.

Several other large investors also recently modified their holdings of the stock. Acadian Asset Management LLC lifted its stake in shares of ONEOK by 275.5% in the first quarter. Acadian Asset Management LLC now owns 2,850 shares of the utilities provider’s stock worth $201,000 after acquiring an additional 2,091 shares during the period. Raymond James Trust N.A. increased its holdings in shares of ONEOK by 6.6% during the first quarter. Raymond James Trust N.A. now owns 5,339 shares of the utilities provider’s stock valued at $377,000 after acquiring an additional 331 shares in the last quarter. Sei Investments Co. boosted its position in shares of ONEOK by 500.5% during the first quarter. Sei Investments Co. now owns 167,226 shares of the utilities provider’s stock valued at $11,812,000 after buying an additional 139,379 shares during the last quarter. Aviva PLC boosted its position in shares of ONEOK by 20.7% during the first quarter. Aviva PLC now owns 161,711 shares of the utilities provider’s stock valued at $11,422,000 after buying an additional 27,697 shares during the last quarter. Finally, Prudential PLC purchased a new position in shares of ONEOK during the first quarter valued at approximately $614,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

NYSE OKE traded up $1.75 during trading hours on Friday, hitting $79.63. The company had a trading volume of 3,044,346 shares, compared to its average volume of 3,035,356. The business has a 50 day moving average of $76.53 and a 200-day moving average of $70.91. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $80.81. 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 company has a market cap of $46.48 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 4.75 and a beta of 1.65.

ONEOK (NYSE:OKE) last released its quarterly earnings results 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 analyst estimates of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same quarter in the prior year, the company earned $1.08 earnings per share. As a group, equities research analysts expect that ONEOK, Inc. will post 4.99 EPS for the current year.

ONEOK announced that its board 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 buy up to 4.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.97%. ONEOK’s dividend payout ratio is currently 71.35%.

Insider Activity

In other ONEOK news, Director Wayne Thomas Smith bought 2,700 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $203,175. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of analyst reports. Mizuho boosted their price objective on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Citigroup increased their target price on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Barclays increased their target price on ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. Finally, Raymond James lifted their target price on ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. 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 company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $82.25.

About ONEOK

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.