Alliance Wealth Advisors LLC UT Acquires 572 Shares of ONEOK, Inc. (NYSE:OKE)

Alliance Wealth Advisors LLC UT increased its holdings in ONEOK, Inc. (NYSE:OKE) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,430 shares of the utilities provider’s stock after acquiring an additional 572 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in ONEOK were worth $2,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp increased its stake in ONEOK by 16.2% during the 4th quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock valued at $1,531,000 after purchasing an additional 3,032 shares in the last quarter. ELCO Management Co. LLC increased its stake in ONEOK by 102.3% during the 3rd quarter. ELCO Management Co. LLC now owns 26,432 shares of the utilities provider’s stock valued at $1,677,000 after purchasing an additional 13,367 shares in the last quarter. Federated Hermes Inc. increased its stake in ONEOK by 31.6% during the 4th quarter. Federated Hermes Inc. now owns 160,596 shares of the utilities provider’s stock valued at $11,277,000 after purchasing an additional 38,560 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in ONEOK by 11.4% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,729 shares of the utilities provider’s stock valued at $490,000 after purchasing an additional 790 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its stake in ONEOK by 32.1% during the 4th quarter. Vontobel Holding Ltd. now owns 72,394 shares of the utilities provider’s stock valued at $5,084,000 after purchasing an additional 17,612 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ONEOK news, Director Wayne Thomas Smith acquired 2,700 shares of the company’s stock in a transaction on Friday, March 1st. The stock was acquired at an average cost of $75.25 per share, with a total value of $203,175.00. Following the purchase, the director now directly owns 2,700 shares of the company’s stock, valued at approximately $203,175. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

ONEOK Price Performance

Shares of OKE stock traded down $0.32 during mid-day trading on Friday, hitting $81.06. The company had a trading volume of 1,555,086 shares, compared to its average volume of 2,506,930. ONEOK, Inc. has a 52-week low of $55.91 and a 52-week high of $81.81. The stock’s 50 day moving average price is $77.78 and its 200-day moving average price is $71.65. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. The company has a market capitalization of $47.31 billion, a P/E ratio of 14.61, a P/E/G ratio of 4.97 and a beta of 1.65.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.03). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the firm posted $1.08 EPS. Equities research analysts forecast that ONEOK, Inc. will post 4.99 earnings per share for the current year.

ONEOK declared that its board has approved a share 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 purchase up to 4.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid 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 4.89%. ONEOK’s payout ratio is currently 71.35%.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of research analyst reports. Truist Financial lifted their price target on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. Citigroup lifted their price target on shares of ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Seaport Res Ptn raised shares of ONEOK from a “neutral” rating to a “buy” rating in a report on Thursday, February 8th. Finally, Morgan Stanley raised their price objective on shares of ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, ONEOK has an average rating of “Hold” and an average price target of $82.25.

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.