RIA Advisory Group LLC Purchases Shares of 32,892 ONEOK, Inc. (NYSE:OKE)

RIA Advisory Group LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 32,892 shares of the utilities provider’s stock, valued at approximately $2,310,000. ONEOK comprises 0.7% of RIA Advisory Group LLC’s portfolio, making the stock its 23rd largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in OKE. Acadian Asset Management LLC boosted its stake in shares of ONEOK by 275.5% in the first quarter. Acadian Asset Management LLC now owns 2,850 shares of the utilities provider’s stock valued at $201,000 after purchasing an additional 2,091 shares during the period. Raymond James Trust N.A. lifted its stake in ONEOK by 6.6% in the first quarter. Raymond James Trust N.A. now owns 5,339 shares of the utilities provider’s stock worth $377,000 after acquiring an additional 331 shares during the last quarter. Sei Investments Co. lifted its stake in ONEOK by 500.5% in the first quarter. Sei Investments Co. now owns 167,226 shares of the utilities provider’s stock worth $11,812,000 after acquiring an additional 139,379 shares during the last quarter. Aviva PLC lifted its stake in ONEOK by 20.7% in the first quarter. Aviva PLC now owns 161,711 shares of the utilities provider’s stock worth $11,422,000 after acquiring an additional 27,697 shares during the last quarter. Finally, Prudential PLC purchased a new position in ONEOK in the first quarter worth approximately $614,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 2.2 %

NYSE OKE traded up $1.75 on Friday, hitting $79.63. 3,044,346 shares of the company were exchanged, compared to its average volume of 3,035,356. The company’s 50 day moving average price is $76.53 and its 200-day moving average price is $70.91. 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 market capitalization of $46.48 billion, a P/E ratio of 14.36, a price-to-earnings-growth ratio of 4.75 and a beta of 1.65. ONEOK, Inc. has a twelve month low of $55.91 and a twelve month high of $80.81.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share 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 business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the firm earned $1.08 EPS. Analysts predict that ONEOK, Inc. will post 4.99 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 4.97%. ONEOK’s dividend payout ratio (DPR) is presently 71.35%.

ONEOK announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 17th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the utilities provider to repurchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Citigroup upped their price target on shares of ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Barclays upped their price objective on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. US Capital Advisors downgraded shares of ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Finally, Stifel Nicolaus upped 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 investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $82.25.

Insider Transactions at ONEOK

In other ONEOK news, Director Wayne Thomas Smith purchased 2,700 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the acquisition, the director now directly owns 2,700 shares in the company, valued at $203,175. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.