ONEOK, Inc. (NYSE:OKE) Shares Acquired by Bay Colony Advisory Group Inc d b a Bay Colony Advisors

Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in ONEOK, Inc. (NYSE:OKE) by 32.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,883 shares of the utilities provider’s stock after acquiring an additional 1,427 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in ONEOK were worth $413,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Vontobel Holding Ltd. lifted its position in shares of ONEOK by 32.1% in the 4th quarter. Vontobel Holding Ltd. now owns 72,394 shares of the utilities provider’s stock valued at $5,084,000 after acquiring an additional 17,612 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of ONEOK by 2.2% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,399,791 shares of the utilities provider’s stock valued at $98,293,000 after acquiring an additional 29,701 shares in the last quarter. Capital Advisors Inc. OK lifted its position in shares of ONEOK by 196.3% in the 4th quarter. Capital Advisors Inc. OK now owns 223,345 shares of the utilities provider’s stock valued at $15,683,000 after acquiring an additional 147,979 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of ONEOK in the 4th quarter valued at approximately $2,472,000. Finally, Simplicity Solutions LLC lifted its position in shares of ONEOK by 3.9% in the 4th quarter. Simplicity Solutions LLC now owns 11,345 shares of the utilities provider’s stock valued at $797,000 after acquiring an additional 422 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE opened at $77.85 on Tuesday. The company’s fifty day moving average is $75.99 and its 200-day moving average is $70.72. ONEOK, Inc. has a 12 month low of $55.91 and a 12 month high of $80.81. The firm has a market cap of $45.44 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 2.27 and a beta of 1.65. 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 posted its earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) 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 earnings per share. Equities analysts expect that ONEOK, Inc. will post 4.98 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, January 30th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 5.09%. This is a positive change from ONEOK’s previous quarterly dividend of $0.96. The ex-dividend date was Monday, January 29th. ONEOK’s dividend payout ratio (DPR) is currently 71.35%.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. UBS Group increased their target price on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. US Capital Advisors downgraded shares of ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Morgan Stanley increased their target price on shares of ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 26th. Seaport Res Ptn upgraded shares of ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. Finally, Citigroup increased their target price on shares of ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $81.73.

Insiders Place Their Bets

In related news, Director Wayne Thomas Smith purchased 2,700 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following 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 filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

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.