Meixler Investment Management Ltd. Has $775,000 Stake in ONEOK, Inc. (NYSE:OKE)

Meixler Investment Management Ltd. decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 24.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,034 shares of the utilities provider’s stock after selling 3,516 shares during the period. Meixler Investment Management Ltd.’s holdings in ONEOK were worth $775,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Peoples Bank KS acquired a new position in shares of ONEOK during the third quarter valued at about $25,000. Beacon Capital Management LLC raised its position in shares of ONEOK by 90.7% during the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after buying an additional 194 shares during the last quarter. Loomis Sayles & Co. L P raised its position in shares of ONEOK by 605.1% during the third quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock valued at $35,000 after buying an additional 478 shares during the last quarter. SOA Wealth Advisors LLC. raised its position in shares of ONEOK by 283.5% during the fourth 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 last quarter. Finally, Moisand Fitzgerald Tamayo LLC raised its position in shares of ONEOK by 1,690.9% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 591 shares of the utilities provider’s stock valued at $37,000 after buying an additional 558 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of analyst reports. Truist Financial upped their target price on shares of ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. Raymond James upped their target price on shares of ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Citigroup upped their price objective on shares of ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. UBS Group upped their price objective 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. Finally, Mizuho upped their price objective on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $82.25.

Insiders Place Their Bets

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the stock in a transaction dated Friday, March 1st. The stock was bought at an average price 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 $203,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

ONEOK Trading Down 0.4 %

NYSE OKE traded down $0.32 during trading hours on Friday, hitting $81.06. The company’s stock had a trading volume of 1,555,086 shares, compared to its average volume of 2,506,930. The stock has a fifty day moving average of $77.78 and a 200 day moving average of $71.68. ONEOK, Inc. has a twelve month low of $55.91 and a twelve month high of $81.81. The firm has a market capitalization of $47.31 billion, a P/E ratio of 14.61, a PEG ratio of 4.95 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 announced its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.03). ONEOK had a net margin of 15.04% and a return on equity of 22.57%. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the company earned $1.08 earnings per share. Equities research analysts forecast that ONEOK, Inc. will post 4.99 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

ONEOK declared that its board has authorized a share repurchase plan on Wednesday, January 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the utilities provider to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.