Parsons Capital Management Inc. RI Buys 200 Shares of ONEOK, Inc. (NYSE:OKE)

Parsons Capital Management Inc. RI boosted its stake in ONEOK, Inc. (NYSE:OKEFree Report) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,250 shares of the utilities provider’s stock after acquiring an additional 200 shares during the period. Parsons Capital Management Inc. RI’s holdings in ONEOK were worth $298,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in OKE. Regal Investment Advisors LLC grew its holdings in ONEOK by 3.6% during the 3rd quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock valued at $294,000 after buying an additional 159 shares in the last quarter. Hoxton Planning & Management LLC grew its holdings in ONEOK by 5.0% during the 3rd quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider’s stock valued at $228,000 after buying an additional 170 shares in the last quarter. MML Investors Services LLC grew its holdings in ONEOK by 0.8% during the 2nd quarter. MML Investors Services LLC now owns 21,637 shares of the utilities provider’s stock valued at $1,335,000 after buying an additional 177 shares in the last quarter. Monarch Capital Management Inc. grew its holdings in ONEOK by 1.2% during the 4th quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock valued at $1,094,000 after buying an additional 183 shares in the last quarter. Finally, Wealthfront Advisers LLC grew its holdings in ONEOK by 0.3% during the 3rd quarter. Wealthfront Advisers LLC now owns 70,574 shares of the utilities provider’s stock valued at $4,477,000 after buying an additional 190 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of ONEOK stock opened at $80.15 on Thursday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. The business’s 50 day simple moving average is $74.16 and its two-hundred day simple moving average is $69.89. The stock has a market capitalization of $46.74 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 2.48 and a beta of 1.65. ONEOK, Inc. has a one year low of $55.91 and a one year high of $80.53.

ONEOK (NYSE:OKEGet Free Report) last announced its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.57 billion. ONEOK had a return on equity of 22.57% and a net margin of 15.04%. During the same period last year, the firm earned $1.08 earnings per share. Analysts forecast that ONEOK, Inc. will post 4.63 EPS for the current year.

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

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, January 30th were paid a $0.99 dividend. 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 yield of 4.94%. The ex-dividend date was Monday, January 29th. ONEOK’s payout ratio is 71.35%.

Insiders Place Their Bets

In related news, Director Wayne Thomas Smith purchased 2,700 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were acquired at an average cost of $75.25 per share, with a total value of $203,175.00. Following the purchase, the director now directly owns 2,700 shares of the company’s stock, valued at $203,175. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OKE. Seaport Res Ptn upgraded ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Raymond James lifted their price target on ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Morgan Stanley lifted their price target on ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 26th. Finally, US Capital Advisors downgraded ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $81.73.

Check Out 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.

Further Reading

Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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