ONEOK, Inc. (NYSE:OKE) Shares Acquired by Syon Capital LLC

Syon Capital LLC lifted its position in ONEOK, Inc. (NYSE:OKE) by 20.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,632 shares of the utilities provider’s stock after acquiring an additional 1,961 shares during the quarter. Syon Capital LLC’s holdings in ONEOK were worth $817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of ONEOK by 10.3% during the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after acquiring an additional 5,525,010 shares in the last quarter. Deutsche Bank AG boosted its position in ONEOK by 37.7% during the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock worth $843,133,000 after purchasing an additional 3,636,660 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in ONEOK by 9.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,255,430 shares of the utilities provider’s stock valued at $650,502,000 after purchasing an additional 889,110 shares during the period. Morgan Stanley increased its position in shares of ONEOK by 20.3% in the third quarter. Morgan Stanley now owns 8,660,013 shares of the utilities provider’s stock valued at $549,305,000 after buying an additional 1,458,392 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of ONEOK by 65.9% during the 3rd quarter. Invesco Ltd. now owns 8,132,301 shares of the utilities provider’s stock worth $515,832,000 after buying an additional 3,229,046 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Buying and Selling

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

ONEOK Trading Down 0.4 %

NYSE:OKE traded down $0.32 on Friday, reaching $81.06. The company’s stock had a trading volume of 1,554,671 shares, compared to its average volume of 2,974,498. The firm has a market cap of $47.31 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 4.94 and a beta of 1.65. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $81.81. The stock has a 50 day moving average price of $77.60 and a 200 day moving average price of $71.54.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). ONEOK had a net margin of 15.04% and a return on equity of 22.57%. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the business earned $1.08 earnings per share. On average, equities analysts anticipate that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

ONEOK declared that its board has approved a stock repurchase plan on Wednesday, January 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the utilities provider to buy up to 4.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is currently 71.35%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OKE. Truist Financial boosted their price target on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. US Capital Advisors cut ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Citigroup increased their target price on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. UBS Group lifted their price target on ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, Morgan Stanley increased their price objective on ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 26th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.