Saxon Interests Inc. Invests $370,000 in ONEOK, Inc. (NYSE:OKE)

Saxon Interests Inc. acquired a new position in ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 5,272 shares of the utilities provider’s stock, valued at approximately $370,000.

Several other hedge funds also recently made changes to their positions in OKE. Acadian Asset Management LLC grew its stake in shares of ONEOK by 275.5% in the 1st quarter. Acadian Asset Management LLC now owns 2,850 shares of the utilities provider’s stock worth $201,000 after purchasing an additional 2,091 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of ONEOK by 6.6% in the first quarter. Raymond James Trust N.A. now owns 5,339 shares of the utilities provider’s stock worth $377,000 after acquiring an additional 331 shares in the last quarter. Sei Investments Co. increased its position in shares of ONEOK by 500.5% in the first quarter. Sei Investments Co. now owns 167,226 shares of the utilities provider’s stock worth $11,812,000 after acquiring an additional 139,379 shares in the last quarter. Aviva PLC increased its position in shares of ONEOK by 20.7% in the first quarter. Aviva PLC now owns 161,711 shares of the utilities provider’s stock worth $11,422,000 after acquiring an additional 27,697 shares in the last quarter. Finally, Prudential PLC purchased a new position in shares of ONEOK in the first quarter worth approximately $614,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

ONEOK stock traded up $0.57 on Thursday, hitting $80.17. The company’s stock had a trading volume of 3,060,635 shares, compared to its average volume of 3,102,328. ONEOK, Inc. has a one year low of $55.91 and a one year high of $80.53. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. The company has a fifty day moving average price of $73.35 and a 200-day moving average price of $69.49. The firm has a market cap of $46.76 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 2.44 and a beta of 1.65.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share (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 quarter last year, the company earned $1.08 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 4.63 earnings per share for the current year.

ONEOK declared that its board has initiated a share repurchase plan on Wednesday, January 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the utilities provider to repurchase up to 4.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, January 30th were given a dividend of $0.99 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.96. The ex-dividend date was Monday, January 29th. This represents a $3.96 annualized dividend and a yield of 4.94%. ONEOK’s dividend payout ratio is 71.35%.

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, for a total transaction of $203,175.00. Following the transaction, the director now owns 2,700 shares in the company, valued at approximately $203,175. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.65% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on OKE shares. Morgan Stanley raised their price target on shares of ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday. Citigroup raised their price target on shares of ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. UBS Group raised their price target on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. raised their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. Finally, Barclays lifted their target price on shares of ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, ONEOK presently has a consensus rating of “Hold” and a consensus target price of $81.73.

ONEOK Company 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.