26,388 Shares in ONEOK, Inc. (NYSE:OKE) Bought by Tritonpoint Wealth LLC

Tritonpoint Wealth LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 26,388 shares of the utilities provider’s stock, valued at approximately $1,853,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its position in ONEOK by 10.3% in the third quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock valued at $3,757,405,000 after purchasing an additional 5,525,010 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in ONEOK by 118,109.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 22,562,603 shares of the utilities provider’s stock valued at $1,482,363,000 after purchasing an additional 22,543,516 shares during the last quarter. Deutsche Bank AG raised its position in ONEOK by 37.7% in the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock valued at $843,133,000 after purchasing an additional 3,636,660 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in ONEOK by 9.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,255,430 shares of the utilities provider’s stock valued at $650,502,000 after purchasing an additional 889,110 shares during the last quarter. Finally, Morgan Stanley raised its position in ONEOK by 20.3% in the third quarter. Morgan Stanley now owns 8,660,013 shares of the utilities provider’s stock valued at $549,305,000 after purchasing an additional 1,458,392 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

ONEOK stock traded up $0.43 during mid-day trading on Friday, reaching $79.65. 1,976,076 shares of the company’s stock were exchanged, compared to its average volume of 2,704,693. The business’s fifty day simple moving average is $74.75 and its 200 day simple moving average is $70.10. The firm has a market capitalization of $46.49 billion, a PE ratio of 14.35, a P/E/G ratio of 2.46 and a beta of 1.65. ONEOK, Inc. has a one year low of $55.91 and a one year high of $80.81. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate 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 business posted $1.08 earnings per share. On average, sell-side analysts expect that ONEOK, Inc. will post 4.63 earnings per share for the current year.

ONEOK announced that its board has initiated a share buyback program on Wednesday, January 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the utilities provider to purchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, January 30th were issued a dividend of $0.99 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.96. This represents a $3.96 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend was Monday, January 29th. ONEOK’s dividend payout ratio (DPR) is 71.35%.

Insider Buying and Selling

In other news, Director Wayne Thomas Smith bought 2,700 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was acquired at an average cost of $75.25 per share, with a total value of $203,175.00. Following the completion of 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 is available at this hyperlink. 0.65% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

OKE has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, March 13th. Mizuho raised their target price on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. US Capital Advisors cut ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, Wolfe Research raised ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight 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 an average target price of $81.73.

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.