ONEOK, Inc. (NYSE:OKE) Shares Sold by CoreCap Advisors LLC

CoreCap Advisors LLC lessened its position in ONEOK, Inc. (NYSE:OKE) by 10.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,144 shares of the utilities provider’s stock after selling 461 shares during the period. CoreCap Advisors LLC’s holdings in ONEOK were worth $291,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Peoples Bank KS acquired a new stake in shares of ONEOK in the 3rd quarter worth $25,000. Beacon Capital Management LLC increased its holdings in shares of ONEOK by 90.7% in the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 194 shares in the last quarter. Quent Capital LLC increased its holdings in shares of ONEOK by 97.7% in the 3rd quarter. Quent Capital LLC now owns 437 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 216 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new position in shares of ONEOK in the 4th quarter valued at about $29,000. Finally, Worth Asset Management LLC purchased a new position in shares of ONEOK in the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 1.2 %

Shares of OKE stock opened at $79.59 on Thursday. The stock has a market cap of $46.42 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 2.28 and a beta of 1.65. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. ONEOK, Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $80.22. The firm’s 50 day moving average price is $73.14 and its two-hundred day moving average price is $69.42.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). ONEOK had a net margin of 15.04% and a return on equity of 22.57%. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period last year, the firm earned $1.08 earnings per share. On average, analysts anticipate that ONEOK, Inc. will post 4.98 EPS for the current year.

ONEOK announced that its Board of Directors has initiated 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th were given a dividend of $0.99 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.96. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend was Monday, January 29th. ONEOK’s payout ratio is presently 71.35%.

Insider Transactions at ONEOK

In related news, Director Wayne Thomas Smith purchased 2,700 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was acquired 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 owns 2,700 shares in the company, valued at $203,175. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. Citigroup raised their target price on shares of ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Bank of America upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and raised their target price for the company from $72.00 to $83.00 in a report on Monday, December 4th. Wolfe Research upgraded shares of ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Finally, Barclays lifted their price target on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $81.73.

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.