Meridian Wealth Advisors LLC Sells 355 Shares of ONEOK, Inc. (NYSE:OKE)

Meridian Wealth Advisors LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 7.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,596 shares of the utilities provider’s stock after selling 355 shares during the period. Meridian Wealth Advisors LLC’s holdings in ONEOK were worth $323,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Regal Investment Advisors LLC boosted its holdings in ONEOK by 3.6% in the 3rd quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock worth $294,000 after buying an additional 159 shares during the period. FourThought Financial Partners LLC boosted its holdings in ONEOK by 3.8% in the 4th quarter. FourThought Financial Partners LLC now owns 4,386 shares of the utilities provider’s stock worth $308,000 after buying an additional 161 shares during the period. Hoxton Planning & Management LLC boosted its holdings in ONEOK by 5.0% in the 3rd quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider’s stock worth $228,000 after buying an additional 170 shares during the period. Monarch Capital Management Inc. lifted its stake in ONEOK by 1.2% in the 4th quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock worth $1,094,000 after purchasing an additional 183 shares in the last quarter. Finally, Arlington Trust Co LLC lifted its stake in ONEOK by 27.9% in the 4th quarter. Arlington Trust Co LLC now owns 838 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 183 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Wayne Thomas Smith bought 2,700 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the transaction, the director now directly owns 2,700 shares in the company, valued at $203,175. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Mizuho increased their target price 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. Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Raymond James increased their target price on shares of ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 19th. JPMorgan Chase & Co. lifted their target price on shares of ONEOK from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, Truist Financial lifted their target price on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. One equities 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $83.58.

ONEOK Price Performance

Shares of OKE stock traded up $0.12 during mid-day trading on Thursday, hitting $79.26. The company had a trading volume of 92,019 shares, compared to its average volume of 2,941,396. The stock’s 50 day moving average price is $78.52 and its 200-day moving average price is $72.18. The company has a market capitalization of $46.26 billion, a P/E ratio of 18.40, a P/E/G ratio of 4.13 and a beta of 1.64. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48. ONEOK, Inc. has a 52-week low of $55.91 and a 52-week high of $81.81.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. The company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same quarter last year, the firm posted $2.34 EPS. Equities research analysts forecast that ONEOK, Inc. will post 4.95 earnings per share for the current year.

ONEOK announced that its board has initiated a stock repurchase program on Wednesday, January 17th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the utilities provider to purchase up to 4.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is 92.09%.

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.