ONEOK, Inc. (NYSE:OKE) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC cut its holdings in ONEOK, Inc. (NYSE:OKE) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,099 shares of the utilities provider’s stock after selling 159 shares during the period. NewEdge Wealth LLC’s holdings in ONEOK were worth $428,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC lifted its holdings in shares of ONEOK by 118,109.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 22,562,603 shares of the utilities provider’s stock worth $1,482,363,000 after acquiring an additional 22,543,516 shares during the last quarter. Vanguard Group Inc. raised its position in ONEOK by 10.3% in the third quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock valued at $3,757,405,000 after purchasing an additional 5,525,010 shares during the period. Cowa LLC lifted its stake in ONEOK by 9,775.0% during the first quarter. Cowa LLC now owns 5,324,428 shares of the utilities provider’s stock worth $3,761,000 after purchasing an additional 5,270,510 shares in the last quarter. Deutsche Bank AG boosted its position in shares of ONEOK by 37.7% during the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock worth $843,133,000 after buying an additional 3,636,660 shares during the period. Finally, Blackstone Inc. grew its stake in shares of ONEOK by 3,478.3% in the third quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider’s stock valued at $226,973,000 after buying an additional 3,478,316 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 0.8 %

OKE opened at $77.68 on Thursday. The business’s 50-day simple moving average is $76.35 and its 200-day simple moving average is $70.86. The company has a market cap of $45.34 billion, a P/E ratio of 14.00, a PEG ratio of 2.22 and a beta of 1.65. ONEOK, Inc. has a one year low of $55.91 and a one year high of $80.81. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.03). The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same quarter in the prior year, the company earned $1.08 earnings per share. As a group, equities research analysts expect that ONEOK, Inc. will post 4.98 EPS for the current fiscal year.

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.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of research analyst reports. Wolfe Research upgraded ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Citigroup lifted their price objective on shares of ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. raised their price target on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, March 13th. Mizuho upped their price objective on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Finally, Truist Financial lifted their target price on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, ONEOK currently has an average rating of “Hold” and an average price target of $82.25.

Insider Buying and Selling

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