Citizens Financial Group Inc. RI Grows Stock Position in ONEOK, Inc. (NYSE:OKE)

Citizens Financial Group Inc. RI lifted its stake in ONEOK, Inc. (NYSE:OKE) by 48.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 9,985 shares of the utilities provider’s stock after buying an additional 3,250 shares during the period. Citizens Financial Group Inc. RI’s holdings in ONEOK were worth $701,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of OKE. Regal Investment Advisors LLC boosted its position in shares of ONEOK by 3.6% in the 3rd quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock worth $294,000 after purchasing an additional 159 shares in the last quarter. Hoxton Planning & Management LLC boosted its position in shares of ONEOK by 5.0% in the 3rd quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider’s stock worth $228,000 after purchasing an additional 170 shares in the last quarter. Monarch Capital Management Inc. boosted its position in shares of ONEOK by 1.2% in the 4th quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock worth $1,094,000 after purchasing an additional 183 shares in the last quarter. Arlington Trust Co LLC boosted its position in shares of ONEOK by 27.9% in the 4th quarter. Arlington Trust Co LLC now owns 838 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 183 shares in the last quarter. Finally, Wealthfront Advisers LLC boosted its position in shares of ONEOK by 0.3% in the 3rd quarter. Wealthfront Advisers LLC now owns 70,574 shares of the utilities provider’s stock worth $4,477,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citigroup boosted their price objective on shares of ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. boosted their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. Mizuho boosted 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. Raymond James boosted their price objective on shares of ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Finally, Truist Financial boosted their price objective on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. One 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. Based on data from MarketBeat, ONEOK currently has an average rating of “Hold” and an average target price of $82.25.

ONEOK Trading Down 0.4 %

NYSE:OKE opened at $81.06 on Friday. 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 firm has a market capitalization of $47.31 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 4.95 and a beta of 1.65. ONEOK, Inc. has a one year low of $55.91 and a one year high of $81.81. The business has a fifty day moving average price of $77.78 and a 200-day moving average price of $71.68.

ONEOK (NYSE:OKE) last posted 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 company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.57 billion. ONEOK had a return on equity of 22.57% and a net margin of 15.04%. During the same quarter last year, the company earned $1.08 earnings per share. Sell-side analysts forecast that ONEOK, Inc. will post 4.99 EPS for the current year.

ONEOK Dividend Announcement

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

ONEOK declared that its Board of Directors has authorized a stock repurchase program on Wednesday, January 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the utilities provider to buy up to 4.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Transactions at ONEOK

In related news, Director Wayne Thomas Smith acquired 2,700 shares of ONEOK stock in a transaction dated Friday, March 1st. The stock was purchased at an average cost of $75.25 per share, for a total transaction 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

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.