Fort Washington Investment Advisors Inc. OH Buys 7,000 Shares of ONEOK, Inc. (NYSE:OKE)

Fort Washington Investment Advisors Inc. OH boosted its stake in ONEOK, Inc. (NYSE:OKE) by 15.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,183 shares of the utilities provider’s stock after acquiring an additional 7,000 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in ONEOK were worth $3,735,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in OKE. Peoples Bank KS bought a new stake in ONEOK in the third quarter valued at approximately $25,000. First Command Bank boosted its holdings in ONEOK by 401.0% in the second quarter. First Command Bank now owns 491 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 393 shares during the last quarter. Quent Capital LLC boosted its holdings in ONEOK by 97.7% in the third quarter. Quent Capital LLC now owns 437 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 216 shares during the last quarter. Beacon Capital Management LLC boosted its holdings in shares of ONEOK by 90.7% during the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after buying an additional 194 shares in the last quarter. Finally, Resurgent Financial Advisors LLC bought a new position in shares of ONEOK during the 4th quarter worth approximately $29,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Down 0.8 %

Shares of NYSE:OKE opened at $78.66 on Wednesday. The company has a market capitalization of $45.87 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 2.28 and a beta of 1.65. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. The business has a fifty day moving average price of $72.96 and a two-hundred day moving average price of $69.32. ONEOK, Inc. has a 1 year low of $55.91 and a 1 year high of $80.22.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) 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 the consensus estimate of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same quarter last year, the company earned $1.08 EPS. Analysts forecast that ONEOK, Inc. will post 4.98 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th were paid 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 dividend yield of 5.03%. ONEOK’s dividend payout ratio is presently 71.35%.

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

Wall Street Analyst Weigh In

OKE has been the topic of a number of research analyst reports. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Citigroup increased their price target on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Mizuho upped their target price on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Morgan Stanley upped their target price on ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, UBS Group upped their target price on ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $81.73.

Insider Transactions at ONEOK

In other news, Director Wayne Thomas Smith purchased 2,700 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was bought at an average price 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 $203,175. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

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.