Todd Asset Management LLC Lowers Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Todd Asset Management LLC cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 415,864 shares of the utilities provider’s stock after selling 4,115 shares during the quarter. Todd Asset Management LLC owned about 0.07% of ONEOK worth $29,202,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Regal Investment Advisors LLC raised its holdings in shares of ONEOK by 3.6% in the 3rd quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock worth $294,000 after purchasing an additional 159 shares during the period. Hoxton Planning & Management LLC lifted its position in ONEOK by 5.0% during the third quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider’s stock valued at $228,000 after buying an additional 170 shares in the last quarter. Monarch Capital Management Inc. grew its stake in ONEOK by 1.2% during the fourth quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock worth $1,094,000 after buying an additional 183 shares during the period. Arlington Trust Co LLC increased its position in shares of ONEOK by 27.9% in the fourth quarter. Arlington Trust Co LLC now owns 838 shares of the utilities provider’s stock worth $59,000 after acquiring an additional 183 shares in the last quarter. Finally, Wealthfront Advisers LLC raised its stake in shares of ONEOK by 0.3% in the 3rd quarter. Wealthfront Advisers LLC now owns 70,574 shares of the utilities provider’s stock valued at $4,477,000 after acquiring an additional 190 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ONEOK

In other news, Director Wayne Thomas Smith bought 2,700 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average cost of $75.25 per share, with a total value of $203,175.00. Following the completion of the acquisition, the director now directly owns 2,700 shares in the company, valued at $203,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of recent research reports. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Wells Fargo & Company upped their price target on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup lifted their price objective on shares of ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Morgan Stanley upped their target price on shares of ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 26th. Finally, Truist Financial boosted their price objective on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Hold” and a consensus target price of $83.58.

ONEOK Stock Performance

NYSE:OKE traded up $0.28 during mid-day trading on Friday, hitting $77.23. The stock had a trading volume of 2,235,558 shares, compared to its average volume of 2,820,855. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 1.24. The company has a 50 day simple moving average of $78.34 and a 200-day simple moving average of $72.00. The stock has a market capitalization of $45.08 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 4.13 and a beta of 1.64. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $81.81.

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

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

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.99 dividend. This represents a $3.96 annualized dividend 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 presently 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.