ONEOK, Inc. (NYSE:OKE) Shares Sold by Silver Lake Advisory LLC

Silver Lake Advisory LLC lowered its stake in ONEOK, Inc. (NYSE:OKE) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,315 shares of the utilities provider’s stock after selling 236 shares during the quarter. Silver Lake Advisory LLC’s holdings in ONEOK were worth $795,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

OKE has been the topic of several research reports. Truist Financial upped their price target on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research report on Thursday, March 21st. Wells Fargo & Company boosted their price target on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday. Raymond James increased their price objective on shares of ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Stifel Nicolaus boosted their target price 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. Finally, Seaport Res Ptn upgraded shares of ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, ONEOK has an average rating of “Hold” and a consensus price target of $83.25.

Insider Activity

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the business’s stock in a transaction on Friday, March 1st. The shares were purchased at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the acquisition, the director now owns 2,700 shares in the company, valued at $203,175. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

ONEOK Price Performance

Shares of ONEOK stock traded up $0.02 during trading on Thursday, hitting $76.94. The stock had a trading volume of 876,691 shares, compared to its average volume of 2,983,465. The business has a fifty day moving average of $78.19 and a two-hundred day moving average of $71.91. The firm has a market cap of $44.91 billion, a P/E ratio of 17.86, a PEG ratio of 4.81 and a beta of 1.64. ONEOK, Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $81.81. 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 quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share 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 16.87%. The company had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter last year, the firm posted $2.34 EPS. On average, sell-side analysts expect that ONEOK, Inc. will post 5.01 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.99 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 annualized dividend and a dividend yield of 5.15%. ONEOK’s dividend payout ratio is currently 92.09%.

ONEOK announced that its Board of Directors has approved a stock buyback program on Wednesday, January 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the utilities provider to buy up to 4.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

About ONEOK

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.