ONEOK, Inc. (NYSE:OKE) Shares Acquired by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC grew its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 35.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,815 shares of the utilities provider's stock after purchasing an additional 78,657 shares during the period. Beacon Pointe Advisors LLC owned approximately 0.05% of ONEOK worth $21,193,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Bancorp lifted its stake in shares of ONEOK by 16.2% in the 4th quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider's stock valued at $1,531,000 after purchasing an additional 3,032 shares in the last quarter. Kestra Private Wealth Services LLC lifted its position in ONEOK by 26.6% during the 4th quarter. Kestra Private Wealth Services LLC now owns 24,568 shares of the utilities provider's stock worth $1,725,000 after acquiring an additional 5,167 shares in the last quarter. ELCO Management Co. LLC lifted 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 worth $1,677,000 after acquiring an additional 13,367 shares in the last quarter. Federated Hermes Inc. lifted its position in ONEOK by 31.6% during the 4th quarter. Federated Hermes Inc. now owns 160,596 shares of the utilities provider's stock worth $11,277,000 after acquiring an additional 38,560 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted 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 worth $490,000 after acquiring an additional 790 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of NYSE OKE traded up $0.63 during trading on Thursday, reaching $82.24. The stock had a trading volume of 2,004,286 shares, compared to its average volume of 2,922,764. ONEOK, Inc. has a one year low of $55.91 and a one year high of $82.82. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The stock has a market cap of $48.00 billion, a PE ratio of 19.13, a P/E/G ratio of 4.32 and a beta of 1.64. The firm's 50 day moving average price is $79.06 and its two-hundred day moving average price is $72.73.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The business had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the firm posted $2.34 EPS. On average, research analysts forecast that ONEOK, Inc. will post 4.94 earnings per share for the current fiscal year.

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

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 4.82%. ONEOK's dividend payout ratio is currently 92.09%.

Insider Activity at ONEOK

In related news, Director Wayne Thomas Smith acquired 2,700 shares of ONEOK 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 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 document filed with the SEC, which can be accessed through this link. Insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on OKE shares. US Capital Advisors lowered ONEOK from an "overweight" rating to a "hold" rating in a research report on Wednesday, March 20th. Seaport Res Ptn raised ONEOK from a "neutral" rating to a "buy" rating in a research report on Thursday, February 8th. UBS Group lifted their price objective on ONEOK from $80.00 to $87.00 and gave the stock a "buy" rating in a report on Tuesday, February 27th. Truist Financial lifted 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. Finally, Citigroup lifted their price objective on ONEOK from $73.00 to $83.00 and gave the stock a "buy" rating in a report on Tuesday, March 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, ONEOK presently 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.

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