Valley Brook Capital Group Inc. Has $350,000 Stake in ONEOK, Inc. (NYSE:OKE)

Valley Brook Capital Group Inc. decreased its stake in ONEOK, Inc. (NYSE:OKE) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,980 shares of the utilities provider’s stock after selling 200 shares during the quarter. Valley Brook Capital Group Inc.’s holdings in ONEOK were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in OKE. Peoples Bank KS acquired a new position in ONEOK in the third quarter valued at about $25,000. Beacon Capital Management LLC increased its holdings 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 in the last quarter. HHM Wealth Advisors LLC bought a new stake in shares of ONEOK in the fourth quarter worth about $32,000. Loomis Sayles & Co. L P increased its holdings in shares of ONEOK by 605.1% in the third quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 478 shares in the last quarter. Finally, SOA Wealth Advisors LLC. increased its holdings in shares of ONEOK by 283.5% in the fourth quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 377 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Buying and Selling

In other news, Director Wayne Thomas Smith purchased 2,700 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $203,175. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

ONEOK Stock Performance

Shares of OKE traded up $0.28 during mid-day trading on Friday, reaching $77.23. The company’s stock had a trading volume of 2,235,558 shares, compared to its average volume of 2,820,855. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $81.81. The stock has a market cap of $45.08 billion, a P/E ratio of 17.96, a PEG ratio of 4.13 and a beta of 1.64. The business has a 50-day simple moving average of $78.34 and a two-hundred day simple moving average of $72.04. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 1.24.

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

ONEOK declared that its board has approved a share buyback program on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the utilities provider to reacquire up to 4.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

ONEOK Dividend Announcement

The company 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 dividend of $0.99 per share. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 5.13%. ONEOK’s payout ratio is currently 92.09%.

Wall Street Analyst Weigh In

OKE has been the subject of several recent analyst reports. Wells Fargo & Company increased their price target on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday. Stifel Nicolaus increased their price objective on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Raymond James increased their price objective on ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Citigroup increased their price objective on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, UBS Group increased their price objective on ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $83.58.

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.