ONEOK, Inc. (NYSE:OKE) Shares Sold by Clearstead Trust LLC

Clearstead Trust LLC reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 54.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,841 shares of the utilities provider’s stock after selling 3,355 shares during the period. Clearstead Trust LLC’s holdings in ONEOK were worth $199,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of OKE. Peoples Bank KS acquired a new position in ONEOK in the 3rd quarter valued at about $25,000. Beacon Capital Management LLC grew its holdings in shares of 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 purchasing an additional 194 shares in the last quarter. HHM Wealth Advisors LLC purchased a new stake in ONEOK during the 4th quarter worth approximately $32,000. Loomis Sayles & Co. L P lifted its holdings in ONEOK by 605.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock worth $35,000 after buying an additional 478 shares in the last quarter. Finally, SOA Wealth Advisors LLC. boosted its position in ONEOK by 283.5% in the 4th quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock valued at $36,000 after buying an additional 377 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

OKE stock traded up $0.28 during trading on Friday, hitting $77.23. The company had a trading volume of 2,235,558 shares, compared to its average volume of 2,820,855. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $81.81. The firm has a 50-day moving average price of $78.34 and a 200-day moving average price of $72.04. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The firm has a market cap of $45.08 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 4.13 and a beta of 1.64.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The company had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same period in the previous year, the company posted $2.34 EPS. On average, analysts expect that ONEOK, Inc. will post 4.95 earnings per share for the current year.

ONEOK declared that its board has authorized a stock repurchase program on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the utilities provider to reacquire up to 4.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given 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 5.13%. ONEOK’s payout ratio is 92.09%.

Insider Transactions at ONEOK

In other news, Director Wayne Thomas Smith acquired 2,700 shares of ONEOK stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average cost of $75.25 per share, with a total value of $203,175.00. Following the completion of the acquisition, the director now owns 2,700 shares in the company, valued at approximately $203,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on OKE shares. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Wolfe Research upgraded shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. UBS Group lifted their price target on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Citigroup upped their price objective on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Finally, Truist Financial boosted their target price 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 given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $83.58.

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.