ONEOK, Inc. (NYSE:OKE) Shares Sold by Mather Group LLC.

Mather Group LLC. trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 8.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,378 shares of the utilities provider’s stock after selling 562 shares during the quarter. Mather Group LLC.’s holdings in ONEOK were worth $448,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Chevy Chase Trust Holdings LLC grew its position in ONEOK by 27.9% during the third quarter. Chevy Chase Trust Holdings LLC now owns 330,158 shares of the utilities provider’s stock valued at $20,942,000 after acquiring an additional 71,968 shares during the period. SVB Wealth LLC grew its position in ONEOK by 9.3% during the third quarter. SVB Wealth LLC now owns 19,826 shares of the utilities provider’s stock valued at $1,258,000 after acquiring an additional 1,685 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of ONEOK by 30.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 136,559 shares of the utilities provider’s stock worth $8,662,000 after purchasing an additional 32,078 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its stake in shares of ONEOK by 31.8% during the third quarter. Kingswood Wealth Advisors LLC now owns 5,048 shares of the utilities provider’s stock worth $320,000 after purchasing an additional 1,218 shares in the last quarter. Finally, Xponance Inc. lifted its stake in shares of ONEOK by 48.8% during the third quarter. Xponance Inc. now owns 87,156 shares of the utilities provider’s stock worth $5,528,000 after purchasing an additional 28,590 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Activity at ONEOK

In other news, Director Wayne Thomas Smith purchased 2,700 shares of ONEOK stock in a transaction on Friday, March 1st. The shares were purchased at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the transaction, the director now directly owns 2,700 shares in the company, valued at $203,175. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

OKE has been the topic of a number of recent research reports. Citigroup boosted their price objective on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Wolfe Research upgraded ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. boosted their price target on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. UBS Group boosted their price target on ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, Morgan Stanley boosted 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $82.25.

ONEOK Stock Down 2.8 %

OKE stock opened at $76.92 on Thursday. 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 1 year low of $55.91 and a 1 year high of $81.81. The company has a fifty day simple moving average of $78.19 and a 200 day simple moving average of $71.91. The firm has a market cap of $44.89 billion, a PE ratio of 17.89, a PEG ratio of 4.81 and a beta of 1.64.

ONEOK (NYSE:OKE) last announced 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. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 16.87%. During the same quarter last year, the firm posted $2.34 EPS. Sell-side analysts anticipate that ONEOK, Inc. will post 5.01 EPS for the current fiscal year.

ONEOK declared that its Board of Directors has initiated a share buyback program on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the utilities provider to repurchase up to 4.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management 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 is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 5.15%. ONEOK’s payout ratio is currently 92.09%.

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.