Cambridge Financial Group Inc. Sells 3,504 Shares of ONEOK, Inc. (NYSE:OKE)

Cambridge Financial Group Inc. trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,057 shares of the utilities provider’s stock after selling 3,504 shares during the quarter. ONEOK comprises approximately 3.4% of Cambridge Financial Group Inc.’s investment portfolio, making the stock its 15th biggest position. Cambridge Financial Group Inc.’s holdings in ONEOK were worth $6,675,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of OKE. Peoples Bank KS bought a new position in shares of ONEOK during the third quarter worth approximately $25,000. Beacon Capital Management LLC lifted its holdings in shares of ONEOK by 90.7% in the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 194 shares during the last quarter. HHM Wealth Advisors LLC bought a new stake in shares of ONEOK during the 4th quarter valued at approximately $32,000. Loomis Sayles & Co. L P lifted its stake in ONEOK by 605.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 478 shares during the last quarter. Finally, SOA Wealth Advisors LLC. boosted its position in ONEOK by 283.5% in the fourth quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock valued at $36,000 after buying an additional 377 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was purchased at an average cost of $75.25 per share, with a total value of $203,175.00. Following the acquisition, the director now owns 2,700 shares of the company’s stock, valued at approximately $203,175. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price target on ONEOK from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday. Citigroup upped their price objective on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Raymond James lifted their target price on shares of ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Wells Fargo & Company upped their price target on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Stifel Nicolaus raised their price target on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One investment 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.58.

ONEOK Stock Up 0.4 %

OKE traded up $0.28 during midday trading on Friday, hitting $77.23. The company had a trading volume of 2,235,558 shares, compared to its average volume of 2,820,855. The company has a market capitalization of $45.08 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 4.13 and a beta of 1.64. The stock’s 50 day moving average price is $78.34 and its 200 day moving average price is $72.04. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $81.81.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. The business had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same quarter in the prior year, the company earned $2.34 earnings per share. On average, research analysts anticipate that ONEOK, Inc. will post 4.95 earnings per share for the current fiscal year.

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

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is 92.09%.

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.