Capital Advisors Inc. OK Acquires 147,979 Shares of ONEOK, Inc. (NYSE:OKE)

Capital Advisors Inc. OK grew its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 196.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,345 shares of the utilities provider's stock after purchasing an additional 147,979 shares during the period. Capital Advisors Inc. OK's holdings in ONEOK were worth $15,683,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in ONEOK by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider's stock worth $3,757,405,000 after buying an additional 5,525,010 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in ONEOK by 118,109.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 22,562,603 shares of the utilities provider's stock worth $1,482,363,000 after acquiring an additional 22,543,516 shares in the last quarter. Deutsche Bank AG grew its position in ONEOK by 37.7% in the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider's stock worth $843,133,000 after acquiring an additional 3,636,660 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in ONEOK by 9.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,255,430 shares of the utilities provider's stock valued at $650,502,000 after acquiring an additional 889,110 shares during the last quarter. Finally, Morgan Stanley raised its position in ONEOK by 20.3% during the third quarter. Morgan Stanley now owns 8,660,013 shares of the utilities provider's stock valued at $549,305,000 after purchasing an additional 1,458,392 shares in the last quarter. Institutional investors own 69.13% of the company's stock.

Insider Buying and Selling

In other news, Director Wayne Thomas Smith acquired 2,700 shares of the business's stock in a transaction on 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 transaction, the director now owns 2,700 shares in the company, valued at approximately $203,175. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.65% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OKE. UBS Group increased their price objective on ONEOK from $80.00 to $87.00 and gave the company a "buy" rating in a research report on Tuesday, February 27th. StockNews.com upgraded shares of ONEOK from a "sell" rating to a "hold" rating in a report on Wednesday, March 6th. Mizuho upped their price objective on shares of ONEOK from $75.00 to $81.00 and gave the company a "neutral" rating in a research note on Wednesday, March 20th. Seaport Res Ptn upgraded shares of ONEOK from a "neutral" rating to a "buy" rating in a research report on Thursday, February 8th. Finally, Wolfe Research upgraded shares of ONEOK from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $81.73.

ONEOK Trading Down 0.8 %

NYSE OKE traded down $0.64 on Friday, hitting $78.70. The company's stock had a trading volume of 3,692,835 shares, compared to its average volume of 2,800,673. The firm has a market cap of $45.93 billion, a P/E ratio of 14.18, a PEG ratio of 2.46 and a beta of 1.65. ONEOK, Inc. has a 52-week low of $55.91 and a 52-week high of $80.81. The company's 50-day simple moving average is $75.79 and its 200 day simple moving average is $70.58. 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 (NYSE:OKE - Get Free Report) last announced its earnings results on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing analysts' consensus estimates of $1.21 by ($0.03). The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same quarter in the prior year, the company earned $1.08 EPS. Research analysts predict that ONEOK, Inc. will post 4.62 EPS for the current fiscal year.

ONEOK announced that its Board of Directors has approved a share buyback plan on Wednesday, January 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the utilities provider to reacquire up to 4.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, January 30th were given a dividend of $0.99 per share. The ex-dividend date was Monday, January 29th. This represents a $3.96 annualized dividend and a dividend yield of 5.03%. This is a boost from ONEOK's previous quarterly dividend of $0.96. ONEOK's payout ratio is currently 71.35%.

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.