Meridian Wealth Advisors LLC Has $323,000 Holdings in ONEOK, Inc. (NYSE:OKE)

Meridian Wealth Advisors LLC cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 7.2% in the 4th quarter, HoldingsChannel reports. The fund owned 4,596 shares of the utilities provider’s stock after selling 355 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in ONEOK were worth $323,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of OKE. Regal Investment Advisors LLC raised its position in shares of ONEOK by 3.6% in the third quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock valued at $294,000 after buying an additional 159 shares in the last quarter. FourThought Financial Partners LLC grew its stake in shares of ONEOK by 3.8% in the fourth quarter. FourThought Financial Partners LLC now owns 4,386 shares of the utilities provider’s stock worth $308,000 after purchasing an additional 161 shares during the last quarter. Hoxton Planning & Management LLC grew its stake in shares of ONEOK by 5.0% in the third 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 during the last quarter. Monarch Capital Management Inc. grew its stake in shares of ONEOK by 1.2% in the fourth 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 during the last quarter. Finally, Arlington Trust Co LLC grew its stake in shares of ONEOK by 27.9% in the fourth quarter. Arlington Trust Co LLC now owns 838 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 183 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of ONEOK stock traded up $0.12 on Thursday, hitting $79.26. 92,019 shares of the company traded hands, compared to its average volume of 2,941,396. The firm’s 50-day simple moving average is $78.52 and its 200 day simple moving average is $72.18. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. The company has a market cap of $46.26 billion, a P/E ratio of 18.40, a P/E/G ratio of 4.13 and a beta of 1.64. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $81.81.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The firm had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter last year, the company posted $2.34 EPS. Analysts expect that ONEOK, Inc. will post 4.95 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm 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 dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 5.00%. The ex-dividend date is Tuesday, April 30th. ONEOK’s dividend payout ratio is currently 92.09%.

ONEOK announced that its Board of Directors has approved a share repurchase program on Wednesday, January 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the utilities provider to repurchase up to 4.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

OKE has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, March 26th. Mizuho boosted their target price on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, US Capital Advisors downgraded shares of ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $83.58.

Insider Activity at ONEOK

In other news, Director Wayne Thomas Smith purchased 2,700 shares of the business’s stock in a transaction on Friday, March 1st. The shares were acquired at an average price of $75.25 per share, with a total value of $203,175.00. Following the acquisition, the director now directly owns 2,700 shares in the company, valued at $203,175. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by insiders.

ONEOK Company 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.