Savant Capital LLC Sells 184 Shares of ONEOK, Inc. (NYSE:OKE)

Savant Capital LLC lessened its holdings in ONEOK, Inc. (NYSE:OKE) by 3.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,011 shares of the utilities provider’s stock after selling 184 shares during the quarter. Savant Capital LLC’s holdings in ONEOK were worth $422,000 as of its most recent filing with the Securities & Exchange Commission.

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

ONEOK Stock Performance

Shares of OKE opened at $77.23 on Monday. ONEOK, Inc. has a 12 month low of $55.91 and a 12 month high of $81.81. The stock has a fifty day moving average price of $78.34 and a 200-day moving average price of $72.04. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. The firm has a market cap of $45.08 billion, a PE ratio of 17.96, a P/E/G ratio of 4.13 and a beta of 1.64.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS 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 analysts’ expectations of $5.84 billion. During the same period last year, the business posted $2.34 earnings per share. Equities research analysts predict that ONEOK, Inc. will post 4.95 earnings per share for the current fiscal year.

ONEOK declared that its board has initiated a share repurchase program on Wednesday, January 17th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the utilities provider to purchase up to 4.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders 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 dividend yield of 5.13%. ONEOK’s dividend payout ratio is currently 92.09%.

Insiders Place Their Bets

In other news, Director Wayne Thomas Smith acquired 2,700 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were acquired at an average cost of $75.25 per share, with a total value of $203,175.00. Following the completion of the acquisition, the director now owns 2,700 shares of the company’s stock, valued at $203,175. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on OKE shares. Citigroup raised their price objective on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. US Capital Advisors downgraded ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Morgan Stanley increased their target price 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. Truist Financial boosted their price target on shares of ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, March 21st. Finally, Wells Fargo & Company increased their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.58.

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.