Keel Point LLC Purchases Shares of 3,684 ONEOK, Inc. (NYSE:OKE)

Keel Point LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,684 shares of the utilities provider’s stock, valued at approximately $259,000.

Several other large investors also recently modified their holdings of OKE. Fifth Third Bancorp grew its holdings in ONEOK by 16.2% in the 4th quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock valued at $1,531,000 after buying an additional 3,032 shares in the last quarter. ELCO Management Co. LLC boosted its holdings in ONEOK by 102.3% in 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 during the period. Meiji Yasuda Asset Management Co Ltd. grew 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 worth $490,000 after purchasing an additional 790 shares in the last quarter. Prime Capital Investment Advisors LLC increased its holdings in shares of ONEOK by 1.5% during the third 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, Insight Folios Inc acquired a new stake in shares of ONEOK in the third quarter valued at approximately $4,998,000. 69.13% of the stock is owned by institutional investors.

Insider Buying and Selling at ONEOK

In related news, Director Wayne Thomas Smith bought 2,700 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average cost of $75.25 per share, with a total value of $203,175.00. Following the completion of the purchase, the director now directly owns 2,700 shares in the company, valued at $203,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

ONEOK Stock Down 1.0 %

Shares of NYSE OKE opened at $77.07 on Wednesday. ONEOK, Inc. has a 52-week low of $55.91 and a 52-week 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. The company’s 50 day moving average price is $76.17 and its 200-day moving average price is $70.81. The company has a market capitalization of $44.98 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 2.24 and a beta of 1.65.

ONEOK (NYSE:OKE) last issued 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). The business had revenue of $5.24 billion for the quarter, compared to analyst estimates 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 previous year, the business posted $1.08 earnings per share. Equities analysts forecast that ONEOK, Inc. will post 4.98 earnings per share for the current year.

ONEOK declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 17th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the utilities provider to purchase up to 4.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have commented on OKE. Stifel Nicolaus raised their price objective on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday. Raymond James boosted their price target on ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. US Capital Advisors cut shares of ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Mizuho raised their target price on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Finally, Truist Financial upped 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 investment 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. According to data from MarketBeat, the company currently 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.