Daiwa Securities Group Inc. Buys 22,239 Shares of ONEOK, Inc. (NYSE:OKE)

Daiwa Securities Group Inc. raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 41.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,527 shares of the utilities provider’s stock after purchasing an additional 22,239 shares during the period. Daiwa Securities Group Inc.’s holdings in ONEOK were worth $5,374,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in OKE. Tyche Wealth Partners LLC purchased a new position in shares of ONEOK during the fourth quarter valued at $292,000. Avior Wealth Management LLC grew its holdings in ONEOK by 1.3% during the 4th quarter. Avior Wealth Management LLC now owns 39,365 shares of the utilities provider’s stock worth $2,764,000 after acquiring an additional 514 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in ONEOK by 21.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 104,559 shares of the utilities provider’s stock worth $7,342,000 after acquiring an additional 18,194 shares in the last quarter. Desjardins Global Asset Management Inc. increased its position in ONEOK by 2,747.0% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 6,662 shares of the utilities provider’s stock valued at $468,000 after purchasing an additional 6,428 shares during the period. Finally, SVB Wealth LLC raised its holdings in shares of ONEOK by 6.0% in the 4th quarter. SVB Wealth LLC now owns 21,019 shares of the utilities provider’s stock valued at $1,476,000 after purchasing an additional 1,193 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Up 2.2 %

ONEOK stock opened at $79.63 on Friday. ONEOK, Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $80.81. The company has a market cap of $46.48 billion, a PE ratio of 14.35, a PEG ratio of 4.76 and a beta of 1.65. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90. The business’s 50-day simple moving average is $76.74 and its two-hundred day simple moving average is $71.03.

ONEOK (NYSE:OKE) last issued its quarterly 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 return on equity of 22.57% and a net margin of 15.04%. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the company posted $1.08 EPS. Equities analysts anticipate that ONEOK, Inc. will post 4.99 EPS for the current year.

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

ONEOK Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 4.97%. ONEOK’s dividend payout ratio is presently 71.35%.

Insider Activity at ONEOK

In related news, Director Wayne Thomas Smith purchased 2,700 shares of the business’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $75.25 per share, with a total value of $203,175.00. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

OKE has been the topic of a number of recent research reports. Citigroup increased their price objective on shares of ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. Barclays boosted their price target on ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. raised their price objective on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, March 13th. Finally, Truist Financial lifted 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and an average target price of $82.25.

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.