Xponance Inc. Sells 6,466 Shares of ONEOK, Inc. (NYSE:OKE)

Xponance Inc. decreased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,690 shares of the utilities provider’s stock after selling 6,466 shares during the period. Xponance Inc.’s holdings in ONEOK were worth $5,666,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OKE. Moneta Group Investment Advisors LLC lifted its position in ONEOK by 118,109.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 22,562,603 shares of the utilities provider’s stock valued at $1,482,363,000 after purchasing an additional 22,543,516 shares during the period. Vanguard Group Inc. lifted its position in ONEOK by 10.3% during the third quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock valued at $3,757,405,000 after purchasing an additional 5,525,010 shares during the period. Cowa LLC lifted its position in ONEOK by 9,775.0% during the first quarter. Cowa LLC now owns 5,324,428 shares of the utilities provider’s stock valued at $3,761,000 after purchasing an additional 5,270,510 shares during the period. Deutsche Bank AG lifted its position in ONEOK by 37.7% during the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock valued at $843,133,000 after purchasing an additional 3,636,660 shares during the period. Finally, Blackstone Inc. raised its position in ONEOK by 3,478.3% in the third quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider’s stock worth $226,973,000 after acquiring an additional 3,478,316 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on OKE shares. US Capital Advisors downgraded shares of ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Seaport Res Ptn upgraded shares of ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. Wolfe Research upgraded shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Truist Financial increased their price target on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. Finally, Raymond James increased their price target on shares of ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $82.25.

ONEOK Stock Performance

OKE opened at $79.63 on Friday. The stock has a market capitalization of $46.48 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 4.76 and a beta of 1.65. The company has a fifty day moving average of $76.74 and a 200 day moving average of $71.03. ONEOK, Inc. has a fifty-two week low of $55.91 and a fifty-two 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.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.03). ONEOK had a net margin of 15.04% and a return on equity of 22.57%. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter last year, the business earned $1.08 EPS. As a group, sell-side analysts forecast that ONEOK, Inc. will post 4.99 earnings per share for the current fiscal year.

ONEOK Announces Dividend

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

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

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Wayne Thomas Smith acquired 2,700 shares of the stock in a transaction on Friday, March 1st. The stock was acquired at an average price of $75.25 per share, for a total transaction 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 $203,175. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

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.