Atria Wealth Solutions Inc. Buys 2,665 Shares of ONEOK, Inc. (NYSE:OKE)

Atria Wealth Solutions Inc. increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,316 shares of the utilities provider’s stock after purchasing an additional 2,665 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in ONEOK were worth $8,589,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. DAVENPORT & Co LLC increased its stake in shares of ONEOK by 67.9% in the 3rd quarter. DAVENPORT & Co LLC now owns 39,121 shares of the utilities provider’s stock valued at $2,483,000 after buying an additional 15,819 shares during the period. Private Trust Co. NA increased its position in ONEOK by 65.4% in the third quarter. Private Trust Co. NA now owns 6,118 shares of the utilities provider’s stock worth $388,000 after purchasing an additional 2,418 shares during the period. Capital Asset Advisory Services LLC lifted its position in ONEOK by 4.5% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 4,943 shares of the utilities provider’s stock valued at $333,000 after purchasing an additional 213 shares during the period. CX Institutional grew its position in shares of ONEOK by 240.9% during the 3rd quarter. CX Institutional now owns 60,264 shares of the utilities provider’s stock worth $3,823,000 after buying an additional 42,585 shares during the period. Finally, Coastline Trust Co raised its stake in shares of ONEOK by 28.3% during the third quarter. Coastline Trust Co now owns 9,682 shares of the utilities provider’s stock worth $614,000 after buying an additional 2,137 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 0.0 %

NYSE:OKE opened at $81.40 on Friday. ONEOK, Inc. has a 1 year low of $55.91 and a 1 year high of $81.81. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. The stock has a market cap of $47.51 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 4.94 and a beta of 1.65. The stock has a 50-day moving average price of $77.60 and a two-hundred day moving average price of $71.54.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.03). The firm 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 period in the prior year, the company earned $1.08 earnings per share. As a group, equities analysts expect that ONEOK, Inc. will post 4.99 earnings per share for the current year.

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

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 4.86%. ONEOK’s dividend payout ratio (DPR) is presently 71.35%.

Insider Activity at ONEOK

In other ONEOK news, Director Wayne Thomas Smith bought 2,700 shares of ONEOK stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the purchase, the director now owns 2,700 shares of the company’s stock, valued at approximately $203,175. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

OKE has been the subject of several recent research reports. US Capital Advisors cut shares of ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. UBS Group upped their price objective on ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Citigroup upped their price objective on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, Truist Financial upped their price objective on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, ONEOK currently has a consensus rating of “Hold” and an average target price of $82.25.

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.