Fiduciary Group LLC Sells 252 Shares of ONEOK, Inc. (NYSE:OKE)

Fiduciary Group LLC reduced its position in ONEOK, Inc. (NYSE:OKE) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,100 shares of the utilities provider’s stock after selling 252 shares during the quarter. Fiduciary Group LLC’s holdings in ONEOK were worth $288,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Peoples Bank KS bought a new position in ONEOK in the 3rd quarter worth about $25,000. Beacon Capital Management LLC raised its stake in ONEOK by 90.7% in the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 194 shares in the last quarter. HHM Wealth Advisors LLC bought a new stake in ONEOK during the fourth quarter valued at approximately $32,000. Loomis Sayles & Co. L P grew its stake in ONEOK by 605.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock worth $35,000 after buying an additional 478 shares in the last quarter. Finally, SOA Wealth Advisors LLC. increased its holdings in shares of ONEOK by 283.5% in the 4th quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock worth $36,000 after buying an additional 377 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling

In other news, Director Wayne Thomas Smith bought 2,700 shares of ONEOK stock in a transaction on Friday, March 1st. The shares were purchased at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the acquisition, the director now owns 2,700 shares of the company’s stock, valued at $203,175. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on OKE shares. Citigroup upped their target price 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. Stifel Nicolaus raised their price objective on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Wolfe Research raised ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Morgan Stanley lifted their price target on shares of ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 26th. Finally, Raymond James upped their price objective on shares of ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $82.25.

ONEOK Stock Up 0.4 %

Shares of NYSE:OKE opened at $81.41 on Tuesday. The stock’s 50-day moving average is $77.97 and its 200 day moving average is $71.81. The company has a market cap of $47.51 billion, a PE ratio of 14.67, a P/E/G ratio of 4.95 and a beta of 1.65. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. ONEOK, Inc. has a 1 year low of $55.91 and a 1 year high of $81.81.

ONEOK (NYSE:OKE) last announced its 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 business had revenue of $5.24 billion for the quarter, compared to the consensus estimate 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 prior year, the company earned $1.08 EPS. Sell-side analysts anticipate that ONEOK, Inc. will post 4.99 EPS for the current year.

ONEOK declared that its Board of Directors has approved a stock repurchase plan 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 plans are usually 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. Investors of record on Wednesday, May 1st will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio is currently 71.35%.

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.