TCG Advisory Services LLC Has $12.27 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

TCG Advisory Services LLC boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1,938.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 174,689 shares of the utilities provider’s stock after purchasing an additional 166,118 shares during the period. TCG Advisory Services LLC’s holdings in ONEOK were worth $12,267,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Fifth Third Bancorp raised its stake in ONEOK by 16.2% in the fourth quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock valued at $1,531,000 after buying an additional 3,032 shares during the period. Kestra Private Wealth Services LLC raised its stake in ONEOK by 26.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 24,568 shares of the utilities provider’s stock valued at $1,725,000 after buying an additional 5,167 shares during the period. ELCO Management Co. LLC raised its stake in ONEOK by 102.3% in the third quarter. ELCO Management Co. LLC now owns 26,432 shares of the utilities provider’s stock valued at $1,677,000 after buying an additional 13,367 shares during the period. Federated Hermes Inc. raised its stake in ONEOK by 31.6% in the fourth quarter. Federated Hermes Inc. now owns 160,596 shares of the utilities provider’s stock valued at $11,277,000 after buying an additional 38,560 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. raised its stake in ONEOK by 11.4% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,729 shares of the utilities provider’s stock valued at $490,000 after buying an additional 790 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ONEOK

In related news, Director Wayne Thomas Smith purchased 2,700 shares of the business’s stock in a transaction on Friday, March 1st. The stock was acquired at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the purchase, the director now owns 2,700 shares of the company’s stock, valued at $203,175. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.

ONEOK Stock Up 0.4 %

Shares of ONEOK stock traded up $0.28 during trading on Friday, reaching $77.23. 2,235,558 shares of the company traded hands, compared to its average volume of 2,820,855. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.67. The firm has a market capitalization of $45.08 billion, a PE ratio of 17.96, a P/E/G ratio of 4.13 and a beta of 1.64. The company has a 50 day moving average price of $78.34 and a 200-day moving average price of $72.00. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $81.81.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.06 by $0.03. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period last year, the business posted $2.34 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 4.95 earnings per share for the current fiscal year.

ONEOK declared that its board has approved a stock buyback program on Wednesday, January 17th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the utilities provider to reacquire up to 4.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 5.13%. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Raymond James increased their target price on ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Stifel Nicolaus raised their price objective on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Mizuho raised their price objective on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Citigroup raised their price objective on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Finally, Truist Financial raised 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.58.

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.