Director Wayne Smith Acquires Shares of ONEOK Inc (OKE)
Wayne Smith, a director of ONEOK Inc (NYSE:OKE), has recently increased his stake in the company. According to a SEC Filing dated 2024-03-01, the insider purchased 2,700 shares of ONEOK Inc at a price point that has not been disclosed in the filing.
ONEOK Inc is a diversified energy company involved in the gathering, processing, storage, and transportation of natural gas. It operates through segments that include Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines. The company is known for its extensive network of natural gas gathering pipelines and processing facilities.
Insider transactions can provide valuable insights into a company's health and management's perspective on the company's future prospects. An insider purchase often suggests that the company's leaders are confident in the firm's trajectory and believe that the current share price may represent an attractive investment opportunity.
Over the past year, Wayne Smith has purchased a total of 2,700 shares and has not sold any shares. This latest transaction is part of a trend seen within the company, where insider buying activity has outnumbered selling. There have been 3 insider buys and only 1 insider sell over the past year.
On the valuation front, ONEOK Inc's shares were trading at $75.25 on the day of the insider's purchase, giving the company a market capitalization of $43.812 billion. The price-earnings ratio stands at 13.68, which is above the industry median of 10.285 but below the company's historical median price-earnings ratio.
The stock's price-to-GF Value ratio is 1.02, with a GF Value of $73.78, indicating that ONEOK Inc is considered Fairly Valued according to GuruFocus's intrinsic value estimate. The GF Value is a proprietary metric that takes into account historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
Investors and analysts often monitor insider buying and selling patterns to gain insight into a company's internal perspective. The recent purchase by Director Wayne Smith may signal a positive outlook from within the company's board, aligning with the current fair valuation assessment by GuruFocus.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
