ONEOK, Inc. (NYSE:OKE) Shares Sold by Xponance Inc.

Xponance Inc. reduced its position in ONEOK, Inc. (NYSE:OKE) by 7.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 80,690 shares of the utilities provider’s stock after selling 6,466 shares during the quarter. Xponance Inc.’s holdings in ONEOK were worth $5,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in OKE. Peoples Bank KS acquired a new position in shares of ONEOK in the 3rd quarter valued at $25,000. First Command Bank lifted its stake in shares of ONEOK by 401.0% in the 2nd quarter. First Command Bank now owns 491 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 393 shares during the period. Beacon Capital Management LLC lifted its stake in shares of ONEOK by 90.7% in 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 period. Resurgent Financial Advisors LLC acquired a new position in shares of ONEOK in the 4th quarter valued at $29,000. Finally, Worth Asset Management LLC acquired a new position in shares of ONEOK in the 1st quarter valued at $30,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on OKE shares. Stifel Nicolaus boosted their price target on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Raymond James boosted their price target on shares of ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Finally, Truist Financial boosted their price target on shares of ONEOK from $71.00 to $81.00 and gave the stock 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 issued a buy rating to the stock. According to MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and a consensus target price of $82.25.

Insider Buying and Selling at ONEOK

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

ONEOK Trading Up 2.2 %

Shares of OKE opened at $79.63 on Friday. 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 12-month low of $55.91 and a 12-month high of $80.81. The firm has a 50-day moving average price of $76.74 and a 200 day moving average price of $71.03. The firm has a market capitalization of $46.48 billion, a P/E ratio of 14.35, a P/E/G ratio of 4.76 and a beta of 1.65.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). ONEOK had a net margin of 15.04% and a return on equity of 22.57%. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the prior year, the company posted $1.08 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 4.99 EPS for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 4.97%. ONEOK’s payout ratio is currently 71.35%.

ONEOK announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the utilities provider to buy up to 4.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.