Headlands Technologies LLC Purchases New Shares in ONEOK, Inc. (NYSE:OKE)

Headlands Technologies LLC purchased a new position in ONEOK, Inc. (NYSE:OKE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,352 shares of the utilities provider's stock, valued at approximately $1,148,000.

A number of other hedge funds also recently modified their holdings of OKE. Fifth Third Bancorp grew its position in ONEOK by 16.2% in the fourth quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider's stock valued at $1,531,000 after acquiring an additional 3,032 shares during the last quarter. ELCO Management Co. LLC grew its position in ONEOK by 102.3% in the third quarter. ELCO Management Co. LLC now owns 26,432 shares of the utilities provider's stock valued at $1,677,000 after acquiring an additional 13,367 shares during the last quarter. Federated Hermes Inc. grew its position in ONEOK by 31.6% in the fourth quarter. Federated Hermes Inc. now owns 160,596 shares of the utilities provider's stock valued at $11,277,000 after acquiring an additional 38,560 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in ONEOK by 11.4% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,729 shares of the utilities provider's stock valued at $490,000 after acquiring an additional 790 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its position in ONEOK by 32.1% in the fourth quarter. Vontobel Holding Ltd. now owns 72,394 shares of the utilities provider's stock valued at $5,084,000 after acquiring an additional 17,612 shares during the last quarter. Institutional investors own 69.13% of the company's stock.

Insider Activity

In related news, Director Wayne Thomas Smith purchased 2,700 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The stock was acquired at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the acquisition, the director now owns 2,700 shares of the company's stock, valued at approximately $203,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on OKE shares. Wolfe Research upgraded ONEOK from an "underperform" rating to a "peer perform" rating in a report on Wednesday, January 10th. Raymond James boosted their price target on ONEOK from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Friday, January 19th. UBS Group lifted their price objective on ONEOK from $80.00 to $87.00 and gave the stock a "buy" rating in a research note on Tuesday, February 27th. Morgan Stanley lifted their price objective on ONEOK from $84.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 26th. Finally, Citigroup lifted their price objective on ONEOK from $73.00 to $83.00 and gave the stock a "buy" rating in a research note on Tuesday, March 5th. One 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $82.25.

ONEOK Trading Down 0.4 %

OKE traded down $0.32 during trading on Friday, hitting $81.06. The company's stock had a trading volume of 1,555,086 shares, compared to its average volume of 2,506,930. The firm has a market capitalization of $47.31 billion, a P/E ratio of 14.61, a PEG ratio of 4.95 and a beta of 1.65. ONEOK, Inc. has a twelve month low of $55.91 and a twelve month high of $81.81. The stock's fifty day moving average price is $77.78 and its 200-day moving average price is $71.71. 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 (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.03). The firm 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 firm earned $1.08 EPS. Analysts anticipate that ONEOK, Inc. will post 4.99 EPS for the current year.

ONEOK announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the utilities provider to reacquire up to 4.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 annualized dividend and a dividend yield of 4.89%. ONEOK's dividend payout ratio is 71.35%.

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.