Geneos Wealth Management Inc. Sells 7,905 Shares of ONEOK, Inc. (NYSE:OKE)

Geneos Wealth Management Inc. reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 16.5% in the 4th quarter, Holdings Channel reports. The firm owned 40,046 shares of the utilities provider’s stock after selling 7,905 shares during the quarter. Geneos Wealth Management Inc.’s holdings in ONEOK were worth $2,812,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Peoples Bank KS bought a new position in ONEOK during the 3rd quarter worth $25,000. First Command Bank raised its position in ONEOK by 401.0% during the 2nd quarter. First Command Bank now owns 491 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 393 shares during the last quarter. Quent Capital LLC grew its holdings in ONEOK by 97.7% during the 3rd quarter. Quent Capital LLC now owns 437 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 216 shares during the period. Beacon Capital Management LLC grew its holdings in ONEOK by 90.7% during the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 194 shares during the period. Finally, Resurgent Financial Advisors LLC acquired a new stake in ONEOK during the 4th quarter worth about $29,000. 69.13% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Wayne Thomas Smith purchased 2,700 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were bought at an average price 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Citigroup increased their price target on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. increased their price target on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. Truist Financial increased their price target on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Seaport Res Ptn upgraded ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. Finally, Mizuho raised their target price on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. One equities 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $81.73.

ONEOK Stock Down 0.7 %

NYSE OKE traded down $0.58 during trading hours on Wednesday, hitting $79.29. The company’s stock had a trading volume of 402,498 shares, compared to its average volume of 2,990,290. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $80.81. The company has a market capitalization of $46.28 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 2.48 and a beta of 1.65. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. The company’s 50-day simple moving average is $75.15 and its two-hundred day simple moving average is $70.33.

ONEOK (NYSE:OKE) last posted its 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). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the business earned $1.08 EPS. Research analysts anticipate that ONEOK, Inc. will post 4.62 EPS for the current fiscal year.

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 purchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, January 30th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date was Monday, January 29th. This is a boost from ONEOK’s previous quarterly dividend of $0.96. ONEOK’s payout ratio is 71.35%.

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.