Sheets Smith Wealth Management Acquires 414 Shares of ONEOK, Inc. (NYSE:OKE)

Sheets Smith Wealth Management boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,060 shares of the utilities provider’s stock after purchasing an additional 414 shares during the period. Sheets Smith Wealth Management’s holdings in ONEOK were worth $3,656,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Peoples Bank KS acquired a new stake in shares of ONEOK during the 3rd quarter worth approximately $25,000. Beacon Capital Management LLC grew its holdings in ONEOK by 90.7% during the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 194 shares during the period. HHM Wealth Advisors LLC bought a new stake in shares of ONEOK during the 4th quarter valued at $32,000. Loomis Sayles & Co. L P boosted its position in shares of ONEOK by 605.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 478 shares during the last quarter. Finally, SOA Wealth Advisors LLC. grew its stake in shares of ONEOK by 283.5% during the fourth quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 377 shares during the period. Institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling at ONEOK

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were bought at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the purchase, the director now directly owns 2,700 shares in the company, valued at approximately $203,175. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on OKE. Truist Financial increased their target price on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Friday. Wolfe Research raised ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Citigroup boosted their target price on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Finally, Mizuho raised their price target on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $83.58.

ONEOK Stock Up 0.4 %

Shares of NYSE OKE traded up $0.28 during midday trading on Friday, reaching $77.23. The company’s stock had a trading volume of 2,235,558 shares, compared to its average volume of 2,820,855. ONEOK, Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $81.81. The stock has a 50 day simple moving average of $78.34 and a 200-day simple moving average of $72.04. The stock has a market capitalization of $45.08 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 4.13 and a beta of 1.64. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 1.24.

ONEOK (NYSE:OKE) last issued its quarterly earnings results 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 firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period in the previous year, the business earned $2.34 EPS. Equities research analysts predict that ONEOK, Inc. will post 4.95 earnings per share for the current year.

ONEOK announced that its Board of Directors has initiated a share buyback 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 purchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors 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 annualized dividend and a yield of 5.13%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

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.