CAP Partners LLC Takes $594,000 Position in ONEOK, Inc. (NYSE:OKE)

CAP Partners LLC bought a new stake in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,460 shares of the utilities provider’s stock, valued at approximately $594,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fifth Third Bancorp raised its holdings in shares of ONEOK by 16.2% in 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 during the period. Kestra Private Wealth Services LLC grew its stake in ONEOK by 26.6% in the 4th quarter. Kestra Private Wealth Services LLC now owns 24,568 shares of the utilities provider’s stock valued at $1,725,000 after buying an additional 5,167 shares during the last quarter. ELCO Management Co. LLC grew its stake in ONEOK by 102.3% in the 3rd quarter. ELCO Management Co. LLC now owns 26,432 shares of the utilities provider’s stock valued at $1,677,000 after buying an additional 13,367 shares during the last quarter. Federated Hermes Inc. grew its stake in ONEOK by 31.6% in the 4th quarter. Federated Hermes Inc. now owns 160,596 shares of the utilities provider’s stock valued at $11,277,000 after buying an additional 38,560 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its position in shares of 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 worth $490,000 after purchasing an additional 790 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on OKE shares. Stifel Nicolaus increased their target price on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Mizuho increased their price target on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Morgan Stanley increased their price target on shares of ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 26th. Finally, Wells Fargo & Company increased their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. One 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $83.58.

Insiders Place Their Bets

In other ONEOK news, Director Wayne Thomas Smith acquired 2,700 shares of ONEOK stock in a transaction dated Friday, March 1st. The stock was purchased at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the completion of 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

ONEOK Trading Up 0.8 %

Shares of OKE traded up $0.66 during trading hours on Monday, hitting $80.85. 1,462,700 shares of the stock were exchanged, compared to its average volume of 2,856,009. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48. The firm has a market capitalization of $47.19 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 4.35 and a beta of 1.64. The business has a 50-day moving average of $79.77 and a 200-day moving average of $73.72. ONEOK, Inc. has a fifty-two week low of $56.19 and a fifty-two week high of $83.31.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same period last year, the company posted $2.34 earnings per share. On average, research analysts expect that ONEOK, Inc. will post 4.92 EPS for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date was Tuesday, April 30th. ONEOK’s payout ratio is 92.09%.

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.