ONEOK, Inc. (NYSE:OKE) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI cut its position in ONEOK, Inc. (NYSE:OKE) by 4.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,050 shares of the utilities provider’s stock after selling 200 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in ONEOK were worth $325,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in ONEOK by 10.3% during the 3rd 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 period. Norges Bank acquired a new stake in ONEOK during the 4th quarter worth approximately $297,948,000. Deutsche Bank AG lifted its position in ONEOK by 37.7% during the 3rd 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 during the period. Blackstone Inc. lifted its position in ONEOK by 3,478.3% during the 3rd quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider’s stock worth $226,973,000 after acquiring an additional 3,478,316 shares during the period. Finally, Invesco Ltd. lifted its position in ONEOK by 65.9% during the 3rd quarter. Invesco Ltd. now owns 8,132,301 shares of the utilities provider’s stock worth $515,832,000 after acquiring an additional 3,229,046 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. Morgan Stanley increased their target price on ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 26th. Stifel Nicolaus increased their target price on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Truist Financial increased their target price on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. Finally, Wolfe Research raised ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK has an average rating of “Hold” and an average target price of $82.25.

Insider Activity at ONEOK

In other news, Director Wayne Thomas Smith bought 2,700 shares of ONEOK stock in a transaction that occurred on Friday, March 1st. The shares were purchased 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 $203,175. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.

ONEOK Trading Down 0.4 %

Shares of OKE stock traded down $0.32 during mid-day trading on Friday, hitting $81.06. 1,555,086 shares of the company’s stock were exchanged, compared to its average volume of 2,506,930. ONEOK, Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $81.81. The stock has a 50-day simple moving average of $77.78 and a two-hundred day simple moving average of $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. The stock has a market cap of $47.31 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 4.95 and a beta of 1.65.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). ONEOK had a net margin of 15.04% and a return on equity of 22.57%. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the previous year, the business posted $1.08 EPS. Equities analysts expect that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

ONEOK Announces Dividend

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

ONEOK declared that its Board of Directors has approved a share buyback program on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the utilities provider to buy up to 4.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

ONEOK 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.