Clearstead Trust LLC Sells 3,355 Shares of ONEOK, Inc. (NYSE:OKE)

Clearstead Trust LLC lowered its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 54.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,841 shares of the utilities provider’s stock after selling 3,355 shares during the quarter. Clearstead Trust LLC’s holdings in ONEOK were worth $199,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Peoples Bank KS acquired a new stake in shares of ONEOK in the third quarter worth about $25,000. Beacon Capital Management LLC boosted its holdings in shares of ONEOK by 90.7% during the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after buying an additional 194 shares during the period. HHM Wealth Advisors LLC acquired a new position in ONEOK in the 4th quarter valued at $32,000. Loomis Sayles & Co. L P raised its holdings 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 acquiring an additional 478 shares during the period. Finally, SOA Wealth Advisors LLC. lifted its position in ONEOK by 283.5% during the 4th quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 377 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of OKE traded up $0.28 during trading hours on Friday, hitting $77.23. The stock had a trading volume of 2,235,558 shares, compared to its average volume of 2,820,855. The stock has a market capitalization of $45.08 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 4.13 and a beta of 1.64. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.67. The company’s fifty day moving average is $78.34 and its two-hundred day moving average is $72.04. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $81.81.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The company had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period last year, the company posted $2.34 earnings per share. On average, analysts anticipate that ONEOK, Inc. will post 4.95 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 5.13%. ONEOK’s dividend payout ratio is presently 92.09%.

ONEOK declared that its Board of Directors has approved a share buyback 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 reacquire up to 4.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

OKE has been the subject of several recent analyst reports. Truist Financial increased their target price on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. Raymond James increased their price target on shares of ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Stifel Nicolaus upped their price objective on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Citigroup lifted their target price on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Finally, Mizuho upped their price target on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $83.58.

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 shares were purchased at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the purchase, the director now directly owns 2,700 shares of the company’s stock, valued at $203,175. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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.