Private Wealth Advisors LLC Sells 2,123 Shares of ONEOK, Inc. (NYSE:OKE)

Private Wealth Advisors LLC trimmed its position in shares of ONEOK, Inc. (NYSE:OKEFree Report) by 38.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,350 shares of the utilities provider’s stock after selling 2,123 shares during the quarter. Private Wealth Advisors LLC’s holdings in ONEOK were worth $235,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC raised its stake in ONEOK by 118,109.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 22,562,603 shares of the utilities provider’s stock worth $1,482,363,000 after buying an additional 22,543,516 shares in the last quarter. Vanguard Group Inc. raised its stake in ONEOK by 10.3% in the third quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after buying an additional 5,525,010 shares in the last quarter. Cowa LLC raised its stake in ONEOK by 9,775.0% in the first quarter. Cowa LLC now owns 5,324,428 shares of the utilities provider’s stock worth $3,761,000 after buying an additional 5,270,510 shares in the last quarter. Deutsche Bank AG raised its stake in ONEOK by 37.7% in the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock worth $843,133,000 after buying an additional 3,636,660 shares in the last quarter. Finally, Blackstone Inc. raised its stake 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 buying an additional 3,478,316 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OKE has been the subject of a number of research reports. Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Mizuho upped their price objective on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Seaport Res Ptn upgraded shares of ONEOK from a “neutral” rating to a “buy” rating in a report on Thursday, February 8th. Morgan Stanley increased their price target on shares of ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, March 26th. Finally, US Capital Advisors cut shares of ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $81.73.

Get Our Latest Stock Report on ONEOK

Insiders Place Their Bets

In other news, Director Wayne Thomas Smith acquired 2,700 shares of the firm’s 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 transaction, the director now directly owns 2,700 shares of the company’s stock, valued at $203,175. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.65% of the company’s stock.

ONEOK Stock Performance

OKE traded up $0.15 during trading on Wednesday, hitting $80.15. The company’s stock had a trading volume of 2,782,430 shares, compared to its average volume of 3,045,906. 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 one year low of $55.91 and a one year high of $80.53. The firm has a market cap of $46.74 billion, a PE ratio of 14.41, a P/E/G ratio of 2.47 and a beta of 1.65. The business’s 50 day simple moving average is $74.16 and its 200-day simple moving average is $69.89.

ONEOK (NYSE:OKEGet Free Report) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the previous year, the business posted $1.08 earnings per share. As a group, sell-side analysts predict that ONEOK, Inc. will post 4.63 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, January 30th were given a $0.99 dividend. The ex-dividend date was Monday, January 29th. This is an increase from ONEOK’s previous quarterly dividend of $0.96. This represents a $3.96 annualized dividend and a yield of 4.94%. ONEOK’s dividend payout ratio (DPR) is presently 71.35%.

ONEOK announced that its Board of Directors has approved a stock buyback plan on Wednesday, January 17th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the utilities provider to repurchase up to 4.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

ONEOK Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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