ONEOK, Inc. (NYSE:OKE) Shares Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 11.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,704 shares of the utilities provider’s stock after buying an additional 384 shares during the period. Summit Trail Advisors LLC’s holdings in ONEOK were worth $260,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Regal Investment Advisors LLC lifted its holdings in shares of ONEOK by 3.6% in the 3rd quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock worth $294,000 after purchasing an additional 159 shares during the last quarter. FourThought Financial Partners LLC grew its position in shares of ONEOK by 3.8% during the fourth quarter. FourThought Financial Partners LLC now owns 4,386 shares of the utilities provider’s stock worth $308,000 after acquiring an additional 161 shares during the last quarter. Monarch Capital Management Inc. increased its holdings in shares of ONEOK by 1.2% in the 4th quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock worth $1,094,000 after acquiring an additional 183 shares during the period. Arlington Trust Co LLC increased its holdings in shares of ONEOK by 27.9% in the 4th quarter. Arlington Trust Co LLC now owns 838 shares of the utilities provider’s stock worth $59,000 after acquiring an additional 183 shares during the period. Finally, Wealthfront Advisers LLC lifted its position in ONEOK by 0.3% in the 3rd quarter. Wealthfront Advisers LLC now owns 70,574 shares of the utilities provider’s stock valued at $4,477,000 after purchasing an additional 190 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

OKE has been the topic of several analyst reports. Wolfe Research upgraded shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Seaport Res Ptn upgraded ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. Morgan Stanley increased their price target on ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 26th. Truist Financial lifted their price objective on shares of ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. Finally, StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, ONEOK has a consensus rating of “Hold” and an average target price of $83.58.

ONEOK Stock Up 1.0 %

Shares of NYSE:OKE opened at $79.14 on Thursday. The firm has a 50 day simple moving average of $78.52 and a 200 day simple moving average of $72.18. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $81.81. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The company has a market cap of $46.19 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 4.13 and a beta of 1.64.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The company had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the prior year, the company earned $2.34 earnings per share. As a group, research analysts expect that ONEOK, Inc. will post 4.95 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.00%. ONEOK’s dividend payout ratio is 92.09%.

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

Insider Buying and Selling

In other news, Director Wayne Thomas Smith bought 2,700 shares of the stock in a transaction on Friday, March 1st. The shares were purchased at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the purchase, the director now directly owns 2,700 shares of the company’s stock, valued at approximately $203,175. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently 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.