ONEOK, Inc. (NYSE:OKE) Shares Sold by Tranquility Partners LLC

Tranquility Partners LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 4.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,446 shares of the utilities provider’s stock after selling 584 shares during the period. Tranquility Partners LLC’s holdings in ONEOK were worth $804,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in OKE. Acadian Asset Management LLC boosted its stake in shares of ONEOK by 275.5% during the first quarter. Acadian Asset Management LLC now owns 2,850 shares of the utilities provider’s stock valued at $201,000 after acquiring an additional 2,091 shares during the last quarter. Raymond James Trust N.A. boosted its stake in ONEOK by 6.6% in the 1st quarter. Raymond James Trust N.A. now owns 5,339 shares of the utilities provider’s stock worth $377,000 after buying an additional 331 shares during the last quarter. Sei Investments Co. boosted its stake in ONEOK by 500.5% in the 1st quarter. Sei Investments Co. now owns 167,226 shares of the utilities provider’s stock worth $11,812,000 after buying an additional 139,379 shares during the last quarter. Aviva PLC boosted its stake in ONEOK by 20.7% in the 1st quarter. Aviva PLC now owns 161,711 shares of the utilities provider’s stock worth $11,422,000 after buying an additional 27,697 shares during the last quarter. Finally, Prudential PLC acquired a new stake in ONEOK in the 1st quarter worth about $614,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insiders Place Their Bets

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

ONEOK Stock Up 0.8 %

Shares of OKE stock traded up $0.60 during trading hours on Wednesday, hitting $77.68. 2,647,218 shares of the company were exchanged, compared to its average volume of 3,044,970. 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, Inc. has a one year low of $55.91 and a one year high of $80.81. The business’s 50-day simple moving average is $76.17 and its two-hundred day simple moving average is $70.81. The stock has a market capitalization of $45.34 billion, a price-to-earnings ratio of 14.04, a P/E/G 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 EPS 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 company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the previous year, the business posted $1.08 EPS. Sell-side analysts predict that ONEOK, Inc. will post 4.98 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on OKE shares. Mizuho raised their price target on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Raymond James lifted their target price on ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. UBS Group increased their target price on ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Stifel Nicolaus raised their price target on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. One 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. Based on data from MarketBeat, ONEOK currently has an average 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.