Everpar Advisors LLC Takes $3.87 Million Position in ONEOK, Inc. (NYSE:OKE)

Everpar Advisors LLC purchased a new position in ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 55,160 shares of the utilities provider’s stock, valued at approximately $3,873,000. ONEOK accounts for about 1.8% of Everpar Advisors LLC’s investment portfolio, making the stock its 4th biggest holding.

A number of other hedge funds also recently bought and sold shares of OKE. Peoples Bank KS purchased a new position in ONEOK in the 3rd quarter valued at about $25,000. Beacon Capital Management LLC boosted its stake in shares of ONEOK by 90.7% in the fourth 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 last quarter. HHM Wealth Advisors LLC purchased a new stake in shares of ONEOK during the fourth quarter worth approximately $32,000. Loomis Sayles & Co. L P raised its stake in ONEOK by 605.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 478 shares during the last quarter. Finally, SOA Wealth Advisors LLC. lifted its holdings in ONEOK by 283.5% in the 4th quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 377 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 1.0 %

Shares of OKE stock traded up $0.77 during trading hours on Wednesday, reaching $79.14. 2,228,498 shares of the stock were exchanged, compared to its average volume of 2,973,266. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $81.81. The business’s fifty day moving average is $78.52 and its two-hundred day moving average is $72.18. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48. The firm has a market capitalization of $46.19 billion, a P/E ratio of 18.40, a P/E/G ratio of 4.13 and a beta of 1.64.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same period last year, the business earned $2.34 EPS. As a group, research analysts expect that ONEOK, Inc. will post 4.95 EPS for the current fiscal year.

ONEOK Dividend Announcement

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

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

Analysts Set New Price Targets

OKE has been the topic of several recent research reports. Citigroup boosted their price target on shares of ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Truist Financial raised their price objective on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. UBS Group upped their target price on shares of ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Morgan Stanley lifted their price target on shares of ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 26th. Finally, Seaport Res Ptn upgraded shares of ONEOK from a “neutral” rating to a “buy” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $83.58.

Insider Buying and Selling at ONEOK

In related news, Director Wayne Thomas Smith acquired 2,700 shares of ONEOK stock in a transaction dated Friday, March 1st. The stock was acquired at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the transaction, the director now owns 2,700 shares of the company’s stock, valued at $203,175. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

About ONEOK

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.