ONEOK, Inc. (NYSE:OKE) Shares Sold by Wright Investors Service Inc.

Wright Investors Service Inc. cut its stake in ONEOK, Inc. (NYSE:OKE) by 14.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,324 shares of the utilities provider’s stock after selling 6,366 shares during the quarter. Wright Investors Service Inc.’s holdings in ONEOK were worth $2,691,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fifth Third Bancorp grew its holdings in shares of ONEOK by 16.2% during the 4th quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock worth $1,531,000 after purchasing an additional 3,032 shares during the period. ELCO Management Co. LLC grew its holdings in shares of ONEOK by 102.3% during the 3rd quarter. ELCO Management Co. LLC now owns 26,432 shares of the utilities provider’s stock worth $1,677,000 after purchasing an additional 13,367 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of ONEOK by 11.4% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,729 shares of the utilities provider’s stock worth $490,000 after purchasing an additional 790 shares during the period. Prime Capital Investment Advisors LLC grew its holdings in shares of ONEOK by 1.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 38,780 shares of the utilities provider’s stock worth $2,460,000 after purchasing an additional 581 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in shares of ONEOK by 59.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 154,628 shares of the utilities provider’s stock worth $9,808,000 after purchasing an additional 57,798 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Up 0.2 %

Shares of NYSE OKE traded up $0.18 during midday trading on Thursday, hitting $77.86. 411,502 shares of the company’s stock were exchanged, compared to its average volume of 3,009,230. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. ONEOK, Inc. has a twelve month low of $55.91 and a twelve month high of $80.81. The company has a market cap of $45.44 billion, a PE ratio of 14.00, a P/E/G ratio of 2.22 and a beta of 1.65. The firm’s fifty day simple moving average is $76.35 and its 200-day simple moving average is $70.86.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.03). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period last year, the business posted $1.08 EPS. Research analysts predict that ONEOK, Inc. will post 4.98 EPS for the current fiscal year.

ONEOK announced that its board has authorized a share buyback plan on Wednesday, January 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the utilities provider to repurchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at ONEOK

In other ONEOK news, Director Wayne Thomas Smith bought 2,700 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were acquired at an average price of $75.25 per share, with a total value 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 filing with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Raymond James increased their price target on ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Truist Financial raised 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. Citigroup raised their target price on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Wolfe Research upgraded ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Finally, StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $82.25.

ONEOK 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.