Citizens Financial Group Inc. RI Has $701,000 Stake in ONEOK, Inc. (NYSE:OKE)

Citizens Financial Group Inc. RI lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 48.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,985 shares of the utilities provider’s stock after acquiring an additional 3,250 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in ONEOK were worth $701,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Kovack Advisors Inc. boosted its holdings in shares of ONEOK by 2.3% during the 4th quarter. Kovack Advisors Inc. now owns 10,155 shares of the utilities provider’s stock valued at $713,000 after acquiring an additional 231 shares in the last quarter. Herold Advisors Inc. lifted its holdings in ONEOK by 0.9% during the 4th quarter. Herold Advisors Inc. now owns 46,657 shares of the utilities provider’s stock worth $3,276,000 after buying an additional 403 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in ONEOK by 31.6% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 324,567 shares of the utilities provider’s stock worth $22,791,000 after buying an additional 77,933 shares during the period. Syon Capital LLC lifted its holdings in ONEOK by 20.3% during the 4th quarter. Syon Capital LLC now owns 11,632 shares of the utilities provider’s stock worth $817,000 after buying an additional 1,961 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its holdings in ONEOK by 6.3% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,463 shares of the utilities provider’s stock worth $1,016,000 after buying an additional 854 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the topic of several recent research reports. Truist Financial lifted their target price on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. UBS Group lifted their target price on ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Raymond James lifted their target price on ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Stifel Nicolaus lifted their target price on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Barclays boosted their price objective on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $82.25.

Insider Transactions at ONEOK

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the stock in a transaction dated Friday, March 1st. The stock was purchased at an average cost of $75.25 per share, with a total value of $203,175.00. Following the completion of the purchase, the director now directly owns 2,700 shares in the company, valued at approximately $203,175. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

ONEOK Stock Down 0.4 %

Shares of NYSE:OKE opened at $81.06 on Friday. The business’s 50 day simple moving average is $77.78 and its two-hundred day simple moving average is $71.68. The firm has a market cap 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 debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90. ONEOK, Inc. has a 52-week low of $55.91 and a 52-week high of $81.81.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.03). The firm had revenue of $5.24 billion during 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 in the previous year, the company posted $1.08 EPS. As a group, research analysts forecast that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared 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 payout ratio is currently 71.35%.

ONEOK announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the utilities provider to purchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is 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.