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

PSI Advisors LLC reduced its position in ONEOK, Inc. (NYSE:OKE) by 33.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,185 shares of the utilities provider’s stock after selling 3,043 shares during the quarter. PSI Advisors LLC’s holdings in ONEOK were worth $434,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Peoples Bank KS acquired a new position in ONEOK in the 3rd quarter valued at about $25,000. Beacon Capital Management LLC grew its position in 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 acquiring an additional 194 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new position in ONEOK in the 4th quarter valued at about $29,000. Worth Asset Management LLC acquired a new position in ONEOK in the 1st quarter valued at about $30,000. Finally, Quarry LP purchased a new position in shares of ONEOK in the 1st quarter valued at about $31,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other ONEOK news, Director Wayne Thomas Smith acquired 2,700 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average price of $75.25 per share, with a total value of $203,175.00. Following the completion of the acquisition, the director now directly owns 2,700 shares of the company’s stock, valued at approximately $203,175. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

NYSE OKE traded up $1.75 on Friday, reaching $79.63. The stock had a trading volume of 3,044,511 shares, compared to its average volume of 2,622,345. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $80.81. The business’s 50-day moving average price is $76.74 and its 200 day moving average price is $71.10. The stock has a market cap of $46.48 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 4.87 and a beta of 1.65.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share (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 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 previous year, the firm posted $1.08 EPS. As a group, equities analysts expect that ONEOK, Inc. will post 4.99 earnings per share for the current year.

ONEOK declared that its board has initiated a stock repurchase program on Wednesday, January 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the utilities provider to reacquire up to 4.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

ONEOK Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Mizuho lifted their price objective on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. US Capital Advisors cut ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. UBS Group lifted their price objective on ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, Wolfe Research upgraded ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. 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 MarketBeat.com, the company has an average rating of “Hold” and an average target price of $82.25.

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.