ONEOK, Inc. (NYSE:OKE) Shares Sold by Heronetta Management L.P.

Heronetta Management L.P. trimmed its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 17.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 156,652 shares of the utilities provider's stock after selling 34,000 shares during the quarter. ONEOK accounts for 8.7% of Heronetta Management L.P.'s holdings, making the stock its 4th largest holding. Heronetta Management L.P.'s holdings in ONEOK were worth $11,000,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp lifted its stake in shares of ONEOK by 16.2% during the 4th quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider's stock worth $1,531,000 after purchasing an additional 3,032 shares during the last quarter. ELCO Management Co. LLC increased its position in ONEOK by 102.3% during 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 in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in 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 valued at $490,000 after buying an additional 790 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in ONEOK by 15.9% during the 2nd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 698,627 shares of the utilities provider's stock valued at $43,119,000 after buying an additional 95,725 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC increased its position in ONEOK by 1.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 38,780 shares of the utilities provider's stock valued at $2,460,000 after buying an additional 581 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Wayne Thomas Smith bought 2,700 shares of the firm's stock in a transaction dated Friday, March 1st. The shares were acquired at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the transaction, the director now directly owns 2,700 shares in the company, valued at approximately $203,175. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.29% of the company's stock.

ONEOK Stock Performance

Shares of OKE traded up $0.33 during mid-day trading on Monday, reaching $79.98. The company had a trading volume of 2,312,517 shares, compared to its average volume of 3,034,517. The stock has a market capitalization of $46.68 billion, a P/E ratio of 14.41, a PEG ratio of 2.47 and a beta of 1.65. The stock has a 50 day moving average of $74.95 and a two-hundred day moving average of $70.24. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. ONEOK, Inc. has a 52-week low of $55.91 and a 52-week high of $80.81.

ONEOK (NYSE:OKE - Get Free Report) last released its 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). The firm had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same quarter last year, the business earned $1.08 EPS. On average, analysts expect that ONEOK, Inc. will post 4.62 earnings per share for the current year.

ONEOK announced that its board has approved a stock repurchase plan on Wednesday, January 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the utilities provider to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.95%. The ex-dividend date was Monday, January 29th. This is an increase from ONEOK's previous quarterly dividend of $0.96. ONEOK's dividend payout ratio (DPR) is 71.35%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Citigroup upped their target price on ONEOK from $73.00 to $83.00 and gave the company a "buy" rating in a research report on Tuesday, March 5th. UBS Group increased their price objective on ONEOK from $80.00 to $87.00 and gave the company a "buy" rating in a report on Tuesday, February 27th. Morgan Stanley increased their price objective on ONEOK from $84.00 to $85.00 and gave the company an "equal weight" rating in a report on Tuesday, March 26th. StockNews.com raised ONEOK from a "sell" rating to a "hold" rating in a report on Wednesday, March 6th. Finally, Truist Financial increased their price objective on ONEOK from $71.00 to $81.00 and gave the company a "hold" rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $81.73.

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.