Savant Capital LLC Has $422,000 Stake in ONEOK, Inc. (NYSE:OKE)

Savant Capital LLC cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,011 shares of the utilities provider’s stock after selling 184 shares during the quarter. Savant Capital LLC’s holdings in ONEOK were worth $422,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Peoples Bank KS bought a new stake in shares of ONEOK in the 3rd quarter worth about $25,000. Beacon Capital Management LLC boosted its position in ONEOK by 90.7% in 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. HHM Wealth Advisors LLC bought a new stake in ONEOK during the fourth quarter worth about $32,000. SOA Wealth Advisors LLC. increased its holdings in shares of ONEOK by 283.5% during the fourth quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock worth $36,000 after buying an additional 377 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in shares of ONEOK by 605.1% in the third quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 478 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Price Performance

NYSE OKE opened at $77.23 on Monday. The firm’s 50 day moving average is $78.34 and its 200-day moving average is $72.04. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $45.08 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 4.13 and a beta of 1.64. 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 Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period in the previous year, the business earned $2.34 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 4.95 earnings per share for the current fiscal year.

ONEOK declared that its Board of Directors has authorized a share 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 repurchase up to 4.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 5.13%. ONEOK’s payout ratio is presently 92.09%.

Insider Activity at ONEOK

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company raised their price target on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group upped their price objective on ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Mizuho lifted their target price on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. upped their price target on ONEOK from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday. Finally, StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $83.58.

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.