ONEOK, Inc. (NYSE:OKE) Shares Sold by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,696 shares of the utilities provider’s stock after selling 152 shares during the quarter. Valeo Financial Advisors LLC’s holdings in ONEOK were worth $470,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Peoples Bank KS bought a new position in ONEOK in the 3rd quarter worth approximately $25,000. First Command Bank grew its position in ONEOK by 401.0% in the 2nd quarter. First Command Bank now owns 491 shares of the utilities provider’s stock valued at $27,000 after buying an additional 393 shares in the last quarter. Quent Capital LLC increased its stake in ONEOK by 97.7% during the 3rd quarter. Quent Capital LLC now owns 437 shares of the utilities provider’s stock valued at $28,000 after buying an additional 216 shares during the period. Beacon Capital Management LLC raised its position in shares of 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 buying an additional 194 shares in the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new stake in shares of ONEOK in the 4th quarter worth approximately $29,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of NYSE:OKE opened at $78.70 on Monday. The stock has a market capitalization of $45.93 billion, a P/E ratio of 14.18, a P/E/G ratio of 2.27 and a beta of 1.65. The business has a 50-day moving average of $75.79 and a two-hundred day moving average of $70.63. ONEOK, Inc. has a fifty-two week low of $55.91 and a fifty-two week 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.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share 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 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 quarter last year, the firm posted $1.08 earnings per share. On average, equities research analysts predict that ONEOK, Inc. will post 4.98 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, January 30th were paid a dividend of $0.99 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Monday, January 29th. This represents a $3.96 annualized dividend and a yield of 5.03%. ONEOK’s dividend payout ratio is presently 71.35%.

ONEOK announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the utilities provider to purchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

OKE has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 26th. Wolfe Research raised ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Citigroup upped their price objective on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Barclays lifted their target price on ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. Finally, Seaport Res Ptn raised shares of ONEOK from a “neutral” rating to a “buy” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, ONEOK has an average rating of “Hold” and a consensus price target of $81.73.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Wayne Thomas Smith purchased 2,700 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the acquisition, the director now directly owns 2,700 shares in the company, valued at $203,175. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

ONEOK 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.