3,684 Shares in ONEOK, Inc. (NYSE:OKE) Purchased by Keel Point LLC

Keel Point LLC bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,684 shares of the utilities provider’s stock, valued at approximately $259,000.

Other large investors have also recently made changes to their positions in the company. Peoples Bank KS purchased a new position in ONEOK during the third quarter valued at $25,000. First Command Bank raised its position in shares of ONEOK by 401.0% in the 2nd quarter. First Command Bank now owns 491 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 393 shares during the last quarter. Quent Capital LLC boosted its stake in ONEOK by 97.7% in the 3rd quarter. Quent Capital LLC now owns 437 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 216 shares in the last quarter. Beacon Capital Management LLC grew its position in ONEOK by 90.7% during the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 194 shares during the last quarter. Finally, Resurgent Financial Advisors LLC bought a new stake in ONEOK during the 4th quarter valued at about $29,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Down 1.0 %

Shares of OKE stock opened at $77.07 on Wednesday. The stock has a market cap of $44.98 billion, a P/E ratio of 13.89, a PEG ratio of 2.24 and a beta of 1.65. The company’s fifty day simple moving average is $76.17 and its two-hundred day simple moving average is $70.81. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $80.81.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.57 billion. ONEOK had a return on equity of 22.57% and a net margin of 15.04%. During the same quarter in the prior year, the firm posted $1.08 earnings per share. 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 program on Wednesday, January 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the utilities provider to purchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other ONEOK news, Director Wayne Thomas Smith bought 2,700 shares of ONEOK stock in a transaction dated Friday, March 1st. The shares were purchased at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the acquisition, the director now directly owns 2,700 shares in the company, valued at approximately $203,175. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OKE. Truist Financial upped their target price on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. upped their price objective on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, March 13th. Wolfe Research raised ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Morgan Stanley raised their target price on shares of ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $82.25.

ONEOK Company 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.