Norden Group LLC Sells 340 Shares of ONEOK, Inc. (NYSE:OKE)

Norden Group LLC lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,947 shares of the utilities provider’s stock after selling 340 shares during the quarter. Norden Group LLC’s holdings in ONEOK were worth $207,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of ONEOK by 10.3% during the third quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after purchasing an additional 5,525,010 shares during the period. Deutsche Bank AG lifted its holdings in shares of ONEOK by 37.7% during the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock worth $843,133,000 after purchasing an additional 3,636,660 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of ONEOK by 9.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,255,430 shares of the utilities provider’s stock worth $650,502,000 after purchasing an additional 889,110 shares during the period. Morgan Stanley lifted its holdings in shares of ONEOK by 20.3% during the third quarter. Morgan Stanley now owns 8,660,013 shares of the utilities provider’s stock worth $549,305,000 after purchasing an additional 1,458,392 shares during the period. Finally, Invesco Ltd. lifted its holdings in ONEOK by 65.9% in the third quarter. Invesco Ltd. now owns 8,132,301 shares of the utilities provider’s stock valued at $515,832,000 after buying an additional 3,229,046 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 0.0 %

NYSE:OKE opened at $76.95 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.67. The firm has a 50-day moving average of $78.25 and a 200-day moving average of $71.95. The company has a market cap of $44.91 billion, a PE ratio of 17.90, a PEG ratio of 4.70 and a beta of 1.64. ONEOK, Inc. has a one year low of $55.91 and a one year high of $81.81.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the previous year, the firm posted $2.34 earnings per share. As a group, equities research analysts expect that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s payout ratio is 92.09%.

ONEOK announced that its Board of Directors has initiated a share buyback program on Wednesday, January 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the utilities provider to purchase 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 stock is undervalued.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Wolfe Research upgraded shares of ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Stifel Nicolaus boosted their target price on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their price target on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, March 13th. Finally, UBS Group lifted their price target on shares of ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $83.25.

Insiders Place Their Bets

In other news, Director Wayne Thomas Smith acquired 2,700 shares of ONEOK stock in a transaction on Friday, March 1st. The stock was acquired at an average cost of $75.25 per share, with a total value of $203,175.00. Following the transaction, 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 is available through the SEC website. 0.20% of the stock is currently owned by 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.