TCG Advisory Services LLC Purchases 166,118 Shares of ONEOK, Inc. (NYSE:OKE)

TCG Advisory Services LLC raised its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 1,938.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 174,689 shares of the utilities provider's stock after acquiring an additional 166,118 shares during the quarter. TCG Advisory Services LLC's holdings in ONEOK were worth $12,267,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in ONEOK by 10.3% in the third quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider's stock valued at $3,757,405,000 after buying an additional 5,525,010 shares in the last quarter. Deutsche Bank AG increased its holdings in ONEOK by 37.7% during the 3rd quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider's stock valued at $843,133,000 after purchasing an additional 3,636,660 shares in the last quarter. Blackstone Inc. raised its position in ONEOK by 3,478.3% in the 3rd quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider's stock valued at $226,973,000 after purchasing an additional 3,478,316 shares during the last quarter. Invesco Ltd. boosted its stake 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 grew its holdings in shares of ONEOK by 5,247.1% during 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 during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Insider Activity

In other news, Director Wayne Thomas Smith purchased 2,700 shares of the company's stock in a transaction on Friday, March 1st. The shares were purchased at an average price of $75.25 per share, with a total value of $203,175.00. Following the purchase, the director now directly owns 2,700 shares of the company's stock, valued at approximately $203,175. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.20% of the company's stock.

ONEOK Trading Up 0.4 %

OKE traded up $0.28 during mid-day trading on Friday, hitting $77.23. The stock had a trading volume of 2,235,558 shares, compared to its average volume of 2,820,855. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $81.81. The firm has a market capitalization of $45.08 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 4.13 and a beta of 1.64. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.67. The stock's fifty day simple moving average is $78.34 and its 200-day simple moving average is $72.04.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period in the previous year, the company posted $2.34 earnings per share. As a group, research analysts forecast that ONEOK, Inc. will post 4.95 EPS for the current fiscal year.

ONEOK announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the utilities provider to repurchase up to 4.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date is Tuesday, April 30th. ONEOK's payout ratio is currently 92.09%.

Wall Street Analyst Weigh In

OKE has been the topic of several research reports. Barclays upped their price target on shares of ONEOK from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 7th. StockNews.com raised shares of ONEOK from a "sell" rating to a "hold" rating in a report on Wednesday, March 6th. Truist Financial upped their price objective on ONEOK from $71.00 to $81.00 and gave the stock a "hold" rating in a report on Thursday, March 21st. Citigroup lifted their target price on ONEOK from $73.00 to $83.00 and gave the company a "buy" rating in a research note on Tuesday, March 5th. Finally, Seaport Res Ptn raised ONEOK from a "neutral" rating to a "buy" rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $83.58.

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.