HHM Wealth Advisors LLC Takes $32,000 Position in ONEOK, Inc. (NYSE:OKE)

HHM Wealth Advisors LLC acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 450 shares of the utilities provider’s stock, valued at approximately $32,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Fifth Third Bancorp lifted its stake in shares of ONEOK by 16.2% during the fourth quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock valued at $1,531,000 after buying an additional 3,032 shares during the period. ELCO Management Co. LLC raised its stake in ONEOK by 102.3% during the third quarter. ELCO Management Co. LLC now owns 26,432 shares of the utilities provider’s stock worth $1,677,000 after purchasing an additional 13,367 shares during the period. Federated Hermes Inc. raised its stake in ONEOK by 31.6% during the fourth quarter. Federated Hermes Inc. now owns 160,596 shares of the utilities provider’s stock worth $11,277,000 after purchasing an additional 38,560 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its stake in ONEOK by 11.4% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,729 shares of the utilities provider’s stock worth $490,000 after purchasing an additional 790 shares during the period. Finally, Vontobel Holding Ltd. raised its stake in ONEOK by 32.1% during the fourth quarter. Vontobel Holding Ltd. now owns 72,394 shares of the utilities provider’s stock worth $5,084,000 after purchasing an additional 17,612 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Activity

In other ONEOK news, Director Wayne Thomas Smith purchased 2,700 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was acquired 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

ONEOK Price Performance

Shares of OKE stock opened at $81.06 on Monday. The firm has a market cap of $47.31 billion, a P/E ratio of 14.61, a P/E/G ratio of 4.95 and a beta of 1.65. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $81.81. The firm has a fifty day moving average of $77.78 and a two-hundred day moving average of $71.71.

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). The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.57 billion. ONEOK had a return on equity of 22.57% and a net margin of 15.04%. During the same period in the prior year, the business earned $1.08 earnings per share. As a group, research analysts anticipate that ONEOK, Inc. will post 4.99 earnings per share for the current fiscal year.

ONEOK declared that its board has approved a stock buyback plan on Wednesday, January 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the utilities provider to repurchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio is currently 71.35%.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of recent analyst reports. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Truist Financial raised 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. Seaport Res Ptn raised shares of ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. raised their target price on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, March 13th. Finally, Raymond James raised 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $82.25.

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.