Mutual of America Capital Management LLC Has $5.17 Million Position in ONEOK, Inc. (NYSE:OKE)

Mutual of America Capital Management LLC increased its holdings in shares of ONEOK, Inc. (NYSE:OKEFree Report) by 26.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 81,488 shares of the utilities provider’s stock after buying an additional 17,136 shares during the quarter. Mutual of America Capital Management LLC’s holdings in ONEOK were worth $5,169,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Acadian Asset Management LLC raised its position in ONEOK by 275.5% in the first quarter. Acadian Asset Management LLC now owns 2,850 shares of the utilities provider’s stock valued at $201,000 after purchasing an additional 2,091 shares during the last quarter. Raymond James Trust N.A. raised its position in ONEOK by 6.6% in the first quarter. Raymond James Trust N.A. now owns 5,339 shares of the utilities provider’s stock valued at $377,000 after purchasing an additional 331 shares during the last quarter. Sei Investments Co. raised its position in ONEOK by 500.5% in the first quarter. Sei Investments Co. now owns 167,226 shares of the utilities provider’s stock valued at $11,812,000 after purchasing an additional 139,379 shares during the last quarter. Aviva PLC raised its position in ONEOK by 20.7% in the first quarter. Aviva PLC now owns 161,711 shares of the utilities provider’s stock valued at $11,422,000 after purchasing an additional 27,697 shares during the last quarter. Finally, Prudential PLC bought a new position in ONEOK in the first quarter valued at about $614,000. 68.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ONEOK

In other news, Director Eduardo A. Rodriguez sold 800 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $70.29, for a total value of $56,232.00. Following the transaction, the director now owns 25,154 shares in the company, valued at $1,768,074.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

ONEOK Trading Up 0.1 %

NYSE OKE opened at $69.04 on Monday. The business has a 50 day simple moving average of $69.47 and a 200 day simple moving average of $67.17. ONEOK, Inc. has a one year low of $55.91 and a one year high of $72.51. The stock has a market capitalization of $40.22 billion, a P/E ratio of 12.67, a P/E/G ratio of 1.91 and a beta of 1.64. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.97 and a quick ratio of 0.66.

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

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Tuesday, January 30th will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date of this dividend is Monday, January 29th. This is a boost from ONEOK’s previous quarterly dividend of $0.96. ONEOK’s dividend payout ratio (DPR) is 72.66%.

Analyst Ratings Changes

OKE has been the subject of several research reports. Raymond James increased their target price on ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Royal Bank of Canada increased their target price on ONEOK from $69.00 to $76.00 and gave the company a “sector perform” rating in a research report on Thursday, November 16th. Seaport Res Ptn upgraded ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday. Bank of America upgraded ONEOK from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $72.00 to $83.00 in a research report on Monday, December 4th. Finally, Wolfe Research upgraded ONEOK from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average price target of $75.91.

View Our Latest Analysis on ONEOK

About ONEOK

(Free Report)

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.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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