Linden Thomas Advisory Services LLC Purchases 1,172 Shares of ONEOK, Inc. (NYSE:OKE)

Linden Thomas Advisory Services LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,021 shares of the utilities provider’s stock after purchasing an additional 1,172 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in ONEOK were worth $1,757,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its holdings in ONEOK by 16.2% during the fourth quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock valued at $1,531,000 after purchasing an additional 3,032 shares in the last quarter. ELCO Management Co. LLC lifted its stake in ONEOK by 102.3% in the third quarter. ELCO Management Co. LLC now owns 26,432 shares of the utilities provider’s stock worth $1,677,000 after acquiring an additional 13,367 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its stake in ONEOK by 11.4% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,729 shares of the utilities provider’s stock worth $490,000 after acquiring an additional 790 shares during the period. Vontobel Holding Ltd. increased its holdings in shares of ONEOK by 32.1% during the fourth quarter. Vontobel Holding Ltd. now owns 72,394 shares of the utilities provider’s stock valued at $5,084,000 after acquiring an additional 17,612 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC increased its holdings in ONEOK by 1.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 38,780 shares of the utilities provider’s stock worth $2,460,000 after buying an additional 581 shares during the period. Institutional investors own 69.13% of the company’s stock.

Insider Transactions at ONEOK

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the transaction, the director now directly owns 2,700 shares of the company’s stock, valued at approximately $203,175. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on OKE shares. Seaport Res Ptn upgraded shares of ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. US Capital Advisors downgraded shares of ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Truist Financial raised their price objective on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. lifted their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. Finally, StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. One 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $82.25.

ONEOK Price Performance

OKE stock traded up $0.04 during trading on Wednesday, hitting $80.39. 632,050 shares of the stock traded hands, compared to its average volume of 2,987,792. The stock has a market cap of $46.92 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 4.88 and a beta of 1.65. The company has a 50 day simple moving average of $77.16 and a 200 day simple moving average of $71.41. 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, Inc. has a one year low of $55.91 and a one year high of $80.84.

ONEOK (NYSE:OKE) last announced 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). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the previous year, the firm posted $1.08 earnings per share. Equities analysts expect that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

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

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 4.93%. ONEOK’s payout ratio is currently 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.