NewSquare Capital LLC Boosts Stock Holdings in ONEOK, Inc. (NYSE:OKE)

NewSquare Capital LLC lifted its stake in ONEOK, Inc. (NYSE:OKE) by 821.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,060 shares of the utilities provider’s stock after buying an additional 945 shares during the period. NewSquare Capital LLC’s holdings in ONEOK were worth $74,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in ONEOK by 10.3% in 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 stake in shares of ONEOK by 37.7% in the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock worth $843,133,000 after buying an additional 3,636,660 shares during the period. Blackstone Inc. raised its holdings in ONEOK by 3,478.3% during the 3rd 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 during the last quarter. Invesco Ltd. boosted its position in 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 buying an additional 3,229,046 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of ONEOK by 5,247.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,463,929 shares of the utilities provider’s stock valued at $173,017,000 after acquiring an additional 2,417,849 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 0.4 %

NYSE OKE traded up $0.32 during trading hours on Wednesday, reaching $80.67. 830,564 shares of the company’s stock traded hands, compared to its average volume of 2,990,446. ONEOK, Inc. has a 52-week low of $55.91 and a 52-week high of $80.84. 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 firm has a 50-day simple moving average of $77.16 and a 200 day simple moving average of $71.41. The firm has a market cap of $47.08 billion, a PE ratio of 14.48, a PEG ratio of 4.88 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 the consensus estimate of $1.21 by ($0.03). The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same quarter in the previous year, the business posted $1.08 earnings per share. Sell-side analysts anticipate that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

ONEOK declared that its board has initiated a stock repurchase 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 repurchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 annualized dividend and a dividend yield of 4.91%. ONEOK’s payout ratio is presently 71.35%.

Insider Transactions at ONEOK

In other news, Director Wayne Thomas Smith acquired 2,700 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were bought 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

OKE has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. Truist Financial increased their price objective on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Raymond James boosted their target price on ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Mizuho raised their price target on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Finally, StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently 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.