ONEOK, Inc. (NYSE:OKE) Shares Purchased by New York Life Investment Management LLC

New York Life Investment Management LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 13.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 90,552 shares of the utilities provider’s stock after buying an additional 10,791 shares during the period. New York Life Investment Management LLC’s holdings in ONEOK were worth $6,359,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Peoples Bank KS purchased a new stake in ONEOK during the third quarter worth about $25,000. Beacon Capital Management LLC grew its holdings in shares of ONEOK by 90.7% in the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 194 shares in the last quarter. HHM Wealth Advisors LLC purchased a new stake in ONEOK during the 4th quarter worth approximately $32,000. Loomis Sayles & Co. L P lifted its holdings in ONEOK by 605.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock worth $35,000 after buying an additional 478 shares in the last quarter. Finally, SOA Wealth Advisors LLC. boosted its position in ONEOK by 283.5% in the 4th quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock valued at $36,000 after buying an additional 377 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling at ONEOK

In related news, Director Wayne Thomas Smith acquired 2,700 shares of ONEOK stock in a transaction on Friday, March 1st. The stock was purchased at an average cost of $75.25 per share, with a total value of $203,175.00. Following the purchase, the director now directly owns 2,700 shares in the company, valued at $203,175. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

ONEOK Stock Performance

Shares of OKE stock opened at $77.24 on Friday. The stock’s 50-day moving average is $78.25 and its two-hundred day moving average is $71.95. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.67 and a current ratio of 0.70. ONEOK, Inc. has a 1 year low of $55.91 and a 1 year high of $81.81. The firm has a market cap of $45.08 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 4.11 and a beta of 1.64.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. The company 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 quarter in the previous year, the company posted $2.34 earnings per share. Analysts predict that ONEOK, Inc. will post 4.96 earnings per share for the current year.

ONEOK announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the utilities provider to buy up to 4.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

ONEOK Announces Dividend

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

Wall Street Analysts Forecast Growth

OKE has been the topic of several analyst reports. Barclays increased their price objective on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. Morgan Stanley lifted their price objective on ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 26th. UBS Group upped their target price on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Finally, Truist Financial boosted their price target 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 assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.