Fidelis Capital Partners LLC Grows Holdings in ONEOK, Inc. (NYSE:OKE)

Fidelis Capital Partners LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 9.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,238 shares of the utilities provider’s stock after acquiring an additional 548 shares during the quarter. Fidelis Capital Partners LLC’s holdings in ONEOK were worth $438,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Peoples Bank KS purchased a new stake in ONEOK in the third quarter worth $25,000. Beacon Capital Management LLC increased its stake in shares of ONEOK by 90.7% during the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after buying an additional 194 shares during the period. Resurgent Financial Advisors LLC purchased a new position in shares of ONEOK during the fourth quarter valued at $29,000. Worth Asset Management LLC purchased a new position in shares of ONEOK during the first quarter valued at $30,000. Finally, Quarry LP purchased a new position in shares of ONEOK during the first quarter valued at $31,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE:OKE opened at $79.63 on Friday. The company has a market cap of $46.48 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 4.76 and a beta of 1.65. ONEOK, Inc. has a twelve month low of $55.91 and a twelve month high of $80.81. The company’s 50 day moving average is $76.74 and its 200 day moving average is $71.03. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The business had revenue of $5.24 billion during 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 in the previous year, the company earned $1.08 EPS. On average, sell-side analysts forecast that ONEOK, Inc. will post 4.99 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.99 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.97%. ONEOK’s payout ratio is currently 71.35%.

ONEOK announced that its Board of Directors has initiated a share buyback program on Wednesday, January 17th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the utilities provider to repurchase up to 4.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

OKE has been the topic of several research reports. Citigroup raised their price target on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Mizuho raised their price target on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Wolfe Research upgraded ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Finally, Barclays lifted their target price on 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 given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, ONEOK currently has an average rating of “Hold” and a consensus target price of $82.25.

Insider Transactions at ONEOK

In other news, Director Wayne Thomas Smith purchased 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 owns 2,700 shares of the company’s stock, valued at approximately $203,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

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.