Beacon Harbor Wealth Advisors Inc. Purchases Shares of 71,459 ONEOK, Inc. (NYSE:OKE)

Beacon Harbor Wealth Advisors Inc. bought a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 71,459 shares of the utilities provider's stock, valued at approximately $5,018,000.

Several other large investors also recently added to or reduced their stakes in OKE. Vanguard Group Inc. increased its stake in shares of ONEOK by 10.3% in the third quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider's stock worth $3,757,405,000 after acquiring an additional 5,525,010 shares during the last quarter. Deutsche Bank AG boosted its holdings 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 purchasing an additional 3,636,660 shares in the last quarter. Blackstone Inc. boosted its holdings in ONEOK by 3,478.3% in the third quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider's stock worth $226,973,000 after purchasing an additional 3,478,316 shares in the last quarter. Invesco Ltd. boosted its holdings in ONEOK by 65.9% in the third quarter. Invesco Ltd. now owns 8,132,301 shares of the utilities provider's stock worth $515,832,000 after purchasing an additional 3,229,046 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in ONEOK by 5,247.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,463,929 shares of the utilities provider's stock worth $173,017,000 after purchasing an additional 2,417,849 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Mizuho upped their price objective on shares of ONEOK from $75.00 to $81.00 and gave the stock a "neutral" rating in a report on Wednesday, March 20th. StockNews.com upgraded shares of ONEOK from a "sell" rating to a "hold" rating in a report on Wednesday, March 6th. Barclays upped their price objective on shares of ONEOK from $73.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, March 7th. Seaport Res Ptn upgraded shares of ONEOK from a "neutral" rating to a "buy" rating in a report on Thursday, February 8th. Finally, Truist Financial upped their price target on shares of ONEOK from $71.00 to $81.00 and gave the company a "hold" rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $83.25.

ONEOK Stock Performance

Shares of NYSE OKE traded up $0.03 during mid-day trading on Thursday, hitting $76.95. The company had a trading volume of 2,665,927 shares, compared to its average volume of 3,005,011. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. The business's 50-day simple moving average is $78.25 and its 200-day simple moving average is $71.95. ONEOK, Inc. has a 12 month low of $55.91 and a 12 month high of $81.81. The firm has a market cap of $44.91 billion, a P/E ratio of 17.90, a PEG ratio of 4.81 and a beta of 1.64.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 16.87%. The business had revenue of $4.78 billion during the quarter, compared to analysts' expectations of $5.84 billion. During the same quarter last year, the company earned $2.34 earnings per share. As a group, analysts predict that ONEOK, Inc. will post 5.01 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 5.15%. The ex-dividend date is Tuesday, April 30th. ONEOK's dividend payout ratio (DPR) is presently 92.09%.

ONEOK announced that its board has authorized a stock buyback program on Wednesday, January 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the utilities provider to reacquire up to 4.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other ONEOK news, Director Wayne Thomas Smith purchased 2,700 shares of the company's stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average price of $75.25 per share, with a total value of $203,175.00. Following the completion of the transaction, the director now directly owns 2,700 shares of the company's stock, valued at approximately $203,175. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.20% of the company's stock.

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.