ONEOK, Inc. (NYSE:OKE) Shares Purchased by Flputnam Investment Management Co.

Flputnam Investment Management Co. boosted its stake in ONEOK, Inc. (NYSE:OKE) by 9.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,837 shares of the utilities provider’s stock after acquiring an additional 1,171 shares during the period. Flputnam Investment Management Co.’s holdings in ONEOK were worth $972,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of OKE. Fifth Third Bancorp increased its holdings in shares of ONEOK by 16.2% in the 4th quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock worth $1,531,000 after acquiring an additional 3,032 shares during the period. ELCO Management Co. LLC boosted its position 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 valued at $1,677,000 after purchasing an additional 13,367 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position 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 valued at $490,000 after purchasing an additional 790 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its position 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 valued at $2,460,000 after purchasing an additional 581 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position 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 valued at $9,808,000 after purchasing an additional 57,798 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on OKE. Citigroup raised their target price on shares of ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Truist Financial raised their target price on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. UBS Group raised their target price on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Barclays raised their target price on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. Finally, US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $82.25.

Insiders Place Their Bets

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the business’s stock in a transaction on Friday, March 1st. The stock was bought at an average cost of $75.25 per share, with a total value of $203,175.00. Following the completion of the acquisition, the director now owns 2,700 shares in the company, valued at $203,175. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

ONEOK Trading Up 0.8 %

Shares of ONEOK stock opened at $77.68 on Thursday. The company’s fifty 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 price-to-earnings ratio of 14.00, a PEG ratio of 2.22 and a beta of 1.65. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. ONEOK, Inc. has a 1 year low of $55.91 and a 1 year high of $80.81.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the firm earned $1.08 EPS. As a group, sell-side analysts expect that ONEOK, Inc. will post 4.98 EPS for the current year.

ONEOK declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the utilities provider to repurchase up to 4.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.