ONEOK, Inc. (NYSE:OKE) Shares Acquired by Cwm LLC

Cwm LLC boosted its position in ONEOK, Inc. (NYSE:OKE) by 26.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 36,927 shares of the utilities provider’s stock after acquiring an additional 7,832 shares during the quarter. Cwm LLC’s holdings in ONEOK were worth $2,593,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of ONEOK by 10.3% during the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after purchasing an additional 5,525,010 shares during the period. Deutsche Bank AG increased its holdings in ONEOK by 37.7% in the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock valued at $843,133,000 after buying an additional 3,636,660 shares in the last quarter. Blackstone Inc. increased its holdings in ONEOK by 3,478.3% in the third quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider’s stock valued at $226,973,000 after buying an additional 3,478,316 shares in the last quarter. Invesco Ltd. lifted its position in shares of ONEOK by 65.9% during the 3rd quarter. Invesco Ltd. now owns 8,132,301 shares of the utilities provider’s stock valued at $515,832,000 after acquiring an additional 3,229,046 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of ONEOK by 5,247.1% during the 4th quarter. International Assets Investment Management LLC now owns 2,463,929 shares of the utilities provider’s stock worth $173,017,000 after acquiring an additional 2,417,849 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the subject of several research analyst reports. Citigroup raised their price objective on ONEOK from $73.00 to $83.00 and gave the company 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 report on Wednesday, January 10th. Morgan Stanley lifted 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. Stifel Nicolaus increased their price objective on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Raymond James lifted their target price on shares of ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. One 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, the stock has a consensus rating of “Hold” and an average target price of $82.25.

ONEOK Stock Performance

ONEOK stock opened at $81.38 on Friday. The stock has a fifty day moving average price of $77.60 and a 200 day moving average price of $71.54. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $81.81. The firm has a market capitalization of $47.50 billion, a P/E ratio of 14.66, a PEG ratio of 4.94 and a beta of 1.65. 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 (NYSE:OKE) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same period in the prior year, the company earned $1.08 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 4.99 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.99 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.87%. ONEOK’s dividend payout ratio (DPR) is presently 71.35%.

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

Insider Activity

In other news, Director Wayne Thomas Smith bought 2,700 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 2,700 shares of the company’s stock, valued at approximately $203,175. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

ONEOK 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.