Mather Group LLC. Cuts Stake in ONEOK, Inc. (NYSE:OKE)

Mather Group LLC. reduced its stake in ONEOK, Inc. (NYSE:OKE) by 8.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,378 shares of the utilities provider’s stock after selling 562 shares during the period. Mather Group LLC.’s holdings in ONEOK were worth $448,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OKE. Chevy Chase Trust Holdings LLC boosted its holdings in shares of ONEOK by 27.9% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 330,158 shares of the utilities provider’s stock worth $20,942,000 after buying an additional 71,968 shares during the last quarter. SVB Wealth LLC boosted its holdings in shares of ONEOK by 9.3% in the 3rd quarter. SVB Wealth LLC now owns 19,826 shares of the utilities provider’s stock worth $1,258,000 after buying an additional 1,685 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of ONEOK by 30.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 136,559 shares of the utilities provider’s stock worth $8,662,000 after buying an additional 32,078 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in shares of ONEOK by 31.8% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 5,048 shares of the utilities provider’s stock worth $320,000 after buying an additional 1,218 shares during the last quarter. Finally, Xponance Inc. lifted its holdings in ONEOK by 48.8% during the third quarter. Xponance Inc. now owns 87,156 shares of the utilities provider’s stock valued at $5,528,000 after purchasing an additional 28,590 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Down 2.8 %

Shares of NYSE:OKE opened at $76.92 on Thursday. The stock has a 50 day moving average of $78.19 and a 200 day moving average of $71.91. The company has a market cap of $44.89 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 4.81 and a beta of 1.64. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $81.81.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a return on equity of 16.87% and a net margin of 12.54%. During the same period in the previous year, the company posted $2.34 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 5.01 EPS for the current year.

ONEOK announced that its board has authorized a share repurchase program on Wednesday, January 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the utilities provider to buy up to 4.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

ONEOK Announces Dividend

The firm also recently declared 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 of this dividend is Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 5.15%. ONEOK’s payout ratio is 92.09%.

Insiders Place Their Bets

In other news, Director Wayne Thomas Smith acquired 2,700 shares of the firm’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 acquisition, 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 at this link. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on OKE shares. Truist Financial upped their price objective on shares of ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, March 21st. Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Barclays upped their price objective on shares of ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. Raymond James upped their price objective on shares of ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, Mizuho upped their price objective on shares of 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 issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.