Duff & Phelps Investment Management Co. Raises Stake in ONEOK, Inc. (NYSE:OKE)

Duff & Phelps Investment Management Co. boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 40.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 693,381 shares of the utilities provider’s stock after acquiring an additional 199,000 shares during the period. Duff & Phelps Investment Management Co. owned 0.12% of ONEOK worth $48,689,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Peoples Bank KS bought a new stake in shares of ONEOK during the 3rd quarter worth $25,000. Beacon Capital Management LLC boosted its holdings in shares of ONEOK by 90.7% in the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 194 shares in the last quarter. HHM Wealth Advisors LLC bought a new position in shares of ONEOK during the 4th quarter valued at about $32,000. Loomis Sayles & Co. L P grew its position in 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 acquiring an additional 478 shares during the last quarter. Finally, SOA Wealth Advisors LLC. raised its stake 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 worth $36,000 after acquiring an additional 377 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE OKE traded down $1.17 during midday trading on Tuesday, hitting $79.26. 1,034,697 shares of the stock traded hands, compared to its average volume of 2,947,812. The firm has a market capitalization of $46.26 billion, a P/E ratio of 14.67, a PEG ratio of 4.95 and a beta of 1.65. ONEOK, Inc. has a one year low of $55.91 and a one year high of $81.81. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90. The firm has a 50-day moving average of $77.97 and a two-hundred day moving average of $71.81.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.03). The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same period in the previous year, the company earned $1.08 EPS. On average, equities analysts forecast that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 5.00%. ONEOK’s dividend payout ratio (DPR) is presently 71.35%.

ONEOK announced that its Board of Directors has initiated a share repurchase plan 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 plans are generally an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

OKE has been the topic of several recent research reports. Mizuho increased 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. UBS Group lifted 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. Raymond James lifted their price objective on ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Truist Financial increased their price target on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. Finally, Stifel Nicolaus boosted their target price on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, ONEOK has a consensus rating of “Hold” and a consensus price target of $82.25.

Insider Buying and Selling at ONEOK

In other news, Director Wayne Thomas Smith bought 2,700 shares of ONEOK stock in a transaction that occurred on Friday, March 1st. The stock was bought at an average cost of $75.25 per share, with a total value of $203,175.00. Following the acquisition, the director now owns 2,700 shares of the company’s stock, valued at approximately $203,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by corporate 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.