Geneva Partners LLC Has $571,000 Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Geneva Partners LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 9.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,127 shares of the utilities provider’s stock after selling 814 shares during the quarter. Geneva Partners LLC’s holdings in ONEOK were worth $571,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OKE. Regal Investment Advisors LLC raised its holdings in shares of ONEOK by 3.6% in the third quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock valued at $294,000 after purchasing an additional 159 shares during the last quarter. Hoxton Planning & Management LLC lifted its position in ONEOK by 5.0% during the 3rd quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider’s stock worth $228,000 after buying an additional 170 shares in the last quarter. MML Investors Services LLC boosted its stake in shares of ONEOK by 0.8% during the 2nd quarter. MML Investors Services LLC now owns 21,637 shares of the utilities provider’s stock worth $1,335,000 after buying an additional 177 shares during the last quarter. Monarch Capital Management Inc. grew its holdings in shares of ONEOK by 1.2% in the 4th quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock valued at $1,094,000 after acquiring an additional 183 shares in the last quarter. Finally, Arlington Trust Co LLC increased its position in shares of ONEOK by 27.9% in the fourth quarter. Arlington Trust Co LLC now owns 838 shares of the utilities provider’s stock valued at $59,000 after acquiring an additional 183 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on OKE shares. Wolfe Research raised ONEOK from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. UBS Group increased their price target on shares of ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Stifel Nicolaus boosted their price objective on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday. US Capital Advisors downgraded shares of ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. 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. According to MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and a consensus target price of $82.25.

ONEOK Stock Performance

NYSE OKE traded up $1.75 on Friday, reaching $79.63. The stock had a trading volume of 3,044,029 shares, compared to its average volume of 3,035,358. 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 current ratio of 0.90 and a quick ratio of 0.67. The company has a market cap of $46.48 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 4.75 and a beta of 1.65. The firm has a fifty day moving average of $76.74 and a two-hundred day moving average of $71.03.

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 last year, the company posted $1.08 earnings per share. On average, equities research analysts anticipate that ONEOK, Inc. will post 4.99 EPS for the current year.

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 paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.97%. The ex-dividend date is Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is currently 71.35%.

ONEOK announced that its board has initiated 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 stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Wayne Thomas Smith bought 2,700 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was purchased at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the transaction, the director now owns 2,700 shares in the company, valued at approximately $203,175. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

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.