Nilsine Partners LLC Invests $240,000 in ONEOK, Inc. (NYSE:OKE)

Nilsine Partners LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,995 shares of the utilities provider’s stock, valued at approximately $240,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Peoples Bank KS purchased a new stake in ONEOK during the 3rd quarter worth about $25,000. Rise Advisors LLC purchased a new stake in ONEOK during the 1st quarter worth about $25,000. Beacon Capital Management LLC increased its position in 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 purchasing an additional 194 shares in the last quarter. HHM Wealth Advisors LLC purchased a new stake in ONEOK during the 4th quarter worth about $32,000. Finally, American National Bank purchased a new stake in ONEOK during the 1st quarter worth about $32,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Buying and Selling

In other ONEOK news, Director Wayne Thomas Smith bought 2,700 shares of the business’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $75.25 per share, with a total value of $203,175.00. Following the transaction, the director now directly owns 2,700 shares in the company, valued at approximately $203,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on OKE shares. JPMorgan Chase & Co. lifted their price objective on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. US Capital Advisors cut ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Truist Financial lifted their price target on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, March 21st. Wolfe Research upgraded ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Finally, UBS Group lifted their price target on ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $82.25.

ONEOK Trading Down 2.8 %

Shares of NYSE OKE traded down $2.29 during midday trading on Tuesday, hitting $79.13. The stock had a trading volume of 4,163,724 shares, compared to its average volume of 2,986,888. The company has a fifty day moving average price of $78.12 and a 200 day moving average price of $71.88. The company has a market capitalization of $46.18 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 4.95 and a beta of 1.65. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $81.81.

ONEOK (NYSE:OKE) last released 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 for 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 last year, the firm posted $1.08 earnings per share. On average, analysts predict that ONEOK, Inc. will post 4.99 earnings per share for the current year.

ONEOK declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the utilities provider to repurchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is 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 given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 5.00%. The ex-dividend date is Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is presently 71.35%.

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.