ONEOK, Inc. (NYSE:OKE) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 34.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,738 shares of the utilities provider’s stock after selling 5,560 shares during the period. Perigon Wealth Management LLC’s holdings in ONEOK were worth $754,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of OKE. Peoples Bank KS acquired a new stake in ONEOK in the third quarter worth about $25,000. First Command Bank boosted its stake in shares of ONEOK by 401.0% during the 2nd quarter. First Command Bank now owns 491 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 393 shares in the last quarter. Quent Capital LLC grew its holdings in shares of ONEOK by 97.7% in the 3rd quarter. Quent Capital LLC now owns 437 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 216 shares during the last quarter. Beacon Capital Management LLC lifted its stake in ONEOK by 90.7% during the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after buying an additional 194 shares in the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of ONEOK in the fourth quarter worth approximately $29,000. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. Mizuho increased their price target on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. US Capital Advisors cut shares of ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Finally, Raymond James raised their target price on ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $81.73.

Insider Transactions at ONEOK

In related news, Director Wayne Thomas Smith purchased 2,700 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $203,175. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

ONEOK Price Performance

Shares of ONEOK stock opened at $78.70 on Monday. ONEOK, Inc. has a twelve month low of $55.91 and a twelve month high of $80.81. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90. The firm’s 50-day simple moving average is $75.79 and its 200-day simple moving average is $70.63. The firm has a market cap of $45.93 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 2.27 and a beta of 1.65.

ONEOK (NYSE:OKE) last announced its 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 return on equity of 22.57% and a net margin of 15.04%. During the same period in the previous year, the firm earned $1.08 earnings per share. As a group, research analysts expect that ONEOK, Inc. will post 4.98 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, January 30th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 5.03%. The ex-dividend date of this dividend was Monday, January 29th. This is a boost from ONEOK’s previous quarterly dividend of $0.96. ONEOK’s dividend payout ratio (DPR) is presently 71.35%.

ONEOK announced that its Board of Directors has authorized a share repurchase 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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.