ONEOK, Inc. (NYSE:OKE) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its stake in ONEOK, Inc. (NYSE:OKE) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,564 shares of the utilities provider’s stock after buying an additional 2,048 shares during the period. Mackenzie Financial Corp’s holdings in ONEOK were worth $10,502,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Cullen Investment Group LTD. purchased a new position in shares of ONEOK in the 4th quarter valued at $969,000. Strs Ohio grew its position in shares of ONEOK by 12.9% in the 4th quarter. Strs Ohio now owns 24,459 shares of the utilities provider’s stock valued at $1,717,000 after buying an additional 2,796 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in shares of ONEOK by 32.0% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 5,883 shares of the utilities provider’s stock valued at $413,000 after buying an additional 1,427 shares during the last quarter. Vontobel Holding Ltd. grew its position in shares of ONEOK by 32.1% in the 4th quarter. Vontobel Holding Ltd. now owns 72,394 shares of the utilities provider’s stock valued at $5,084,000 after buying an additional 17,612 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of ONEOK by 2.2% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,399,791 shares of the utilities provider’s stock valued at $98,293,000 after buying an additional 29,701 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Up 2.2 %

Shares of NYSE OKE opened at $79.63 on Friday. 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 52 week low of $55.91 and a 52 week high of $80.81. The firm has a 50-day moving average price of $76.74 and a 200 day moving average price of $71.03. The stock has a market capitalization of $46.48 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 4.76 and a beta of 1.65.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.03). ONEOK had a net margin of 15.04% and a return on equity of 22.57%. The company had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the business earned $1.08 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date is Tuesday, April 30th. ONEOK’s payout ratio is currently 71.35%.

ONEOK declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 17th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the utilities provider to buy up to 4.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

OKE has been the topic of several research reports. Citigroup raised their price objective on shares of ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. UBS Group raised their price objective on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Truist Financial raised their price objective on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Stifel Nicolaus raised their price objective on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $82.25.

Insiders Place Their Bets

In other ONEOK news, Director Wayne Thomas Smith bought 2,700 shares of the business’s stock in a transaction on Friday, March 1st. The stock was bought at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the transaction, the director now owns 2,700 shares in the company, valued at approximately $203,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.

About ONEOK

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.