2,995 Shares in ONEOK, Inc. (NYSE:OKE) Acquired by Nilsine Partners LLC

Nilsine Partners LLC bought a new position in ONEOK, Inc. (NYSE:OKE) in the first quarter, according to its most recent filing with the SEC. The firm bought 2,995 shares of the utilities provider’s stock, valued at approximately $240,000.

A number of other institutional investors also recently bought and sold shares of OKE. UMB Bank n.a. boosted its stake in ONEOK by 330.0% in the 3rd quarter. UMB Bank n.a. now owns 10,187 shares of the utilities provider’s stock worth $646,000 after purchasing an additional 7,818 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in ONEOK by 26.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 232,933 shares of the utilities provider’s stock worth $14,775,000 after purchasing an additional 48,879 shares in the last quarter. Ropes Wealth Advisors LLC acquired a new stake in ONEOK during the 3rd quarter valued at approximately $432,000. Denali Advisors LLC lifted its stake in ONEOK by 9.4% during the 3rd quarter. Denali Advisors LLC now owns 7,018 shares of the utilities provider’s stock valued at $445,000 after acquiring an additional 603 shares during the period. Finally, MCF Advisors LLC lifted its stake in ONEOK by 2,804.7% during the 3rd quarter. MCF Advisors LLC now owns 1,859 shares of the utilities provider’s stock valued at $118,000 after acquiring an additional 1,795 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Mizuho lifted their price objective on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Wolfe Research upgraded shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Raymond James lifted their price objective on shares of ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. UBS Group lifted their price objective 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, March 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Hold” and an average target price of $82.25.

ONEOK Price Performance

NYSE OKE traded down $2.29 on Tuesday, hitting $79.13. The company had a trading volume of 4,163,724 shares, compared to its average volume of 2,986,888. The company has a market capitalization of $46.18 billion, a PE ratio of 14.26, a PEG ratio of 4.95 and a beta of 1.65. The company’s fifty day moving average price is $78.12 and its 200-day moving average price is $71.88. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $81.81.

ONEOK (NYSE:OKE) last issued 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 company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.57 billion. ONEOK had a return on equity of 22.57% and a net margin of 15.04%. During the same period in the previous year, the firm posted $1.08 EPS. As a group, analysts predict that ONEOK, Inc. will post 4.99 earnings per share for the current year.

ONEOK announced that its board has initiated a share buyback program on Wednesday, January 17th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows 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 leadership believes its shares are undervalued.

ONEOK Dividend Announcement

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 issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 5.00%. The ex-dividend date is Tuesday, April 30th. ONEOK’s payout ratio is presently 71.35%.

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.