ONEOK, Inc. (NYSE:OKE) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 2.5% in the 4th quarter, Holdings Channel reports. The fund owned 6,099 shares of the utilities provider’s stock after selling 159 shares during the period. NewEdge Wealth LLC’s holdings in ONEOK were worth $428,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Regal Investment Advisors LLC increased its stake in ONEOK by 3.6% during the 3rd quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock worth $294,000 after buying an additional 159 shares during the period. Hoxton Planning & Management LLC increased its position in shares of ONEOK by 5.0% during the third quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider’s stock worth $228,000 after acquiring an additional 170 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of ONEOK by 0.8% in the second quarter. MML Investors Services LLC now owns 21,637 shares of the utilities provider’s stock worth $1,335,000 after acquiring an additional 177 shares in the last quarter. Monarch Capital Management Inc. boosted its holdings in ONEOK by 1.2% in the fourth quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock valued at $1,094,000 after purchasing an additional 183 shares during the last quarter. Finally, Arlington Trust Co LLC grew its stake in ONEOK by 27.9% during the 4th quarter. Arlington Trust Co LLC now owns 838 shares of the utilities provider’s stock valued at $59,000 after purchasing an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 0.8 %

Shares of NYSE OKE opened at $77.68 on Thursday. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $80.81. The company has a market cap of $45.34 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 2.22 and a beta of 1.65. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. The stock’s 50 day simple moving average is $76.35 and its 200 day simple moving average is $70.86.

ONEOK (NYSE:OKE) last posted its earnings results 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). The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same quarter in the previous year, the business posted $1.08 earnings per share. Equities research analysts expect that ONEOK, Inc. will post 4.98 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OKE. US Capital Advisors cut ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. Mizuho increased their price objective on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. 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. Finally, Truist Financial boosted their price objective on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, ONEOK presently has a consensus rating of “Hold” and an average target price of $82.25.

Insider Buying and Selling at ONEOK

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

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.