Twin Capital Management Inc. Trims Position in ONEOK, Inc. (NYSE:OKE)

Twin Capital Management Inc. decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 2.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 38,319 shares of the utilities provider’s stock after selling 883 shares during the period. Twin Capital Management Inc.’s holdings in ONEOK were worth $2,691,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of OKE. Acadian Asset Management LLC lifted 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 buying an additional 2,091 shares during the period. Raymond James Trust N.A. increased its position in ONEOK by 6.6% during the first quarter. Raymond James Trust N.A. now owns 5,339 shares of the utilities provider’s stock worth $377,000 after purchasing an additional 331 shares during the last quarter. Sei Investments Co. increased its position in ONEOK by 500.5% during the first quarter. Sei Investments Co. now owns 167,226 shares of the utilities provider’s stock worth $11,812,000 after purchasing an additional 139,379 shares during the last quarter. Aviva PLC increased its position in ONEOK by 20.7% during the first quarter. Aviva PLC now owns 161,711 shares of the utilities provider’s stock worth $11,422,000 after purchasing an additional 27,697 shares during the last quarter. Finally, Prudential PLC acquired a new position in ONEOK during the first quarter worth approximately $614,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling at ONEOK

In related news, Director Wayne Thomas Smith acquired 2,700 shares of ONEOK stock in a transaction on 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 purchase, the director now directly owns 2,700 shares of the company’s stock, valued at approximately $203,175. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

ONEOK Stock Up 0.2 %

Shares of OKE stock traded up $0.12 on Thursday, hitting $77.80. The stock had a trading volume of 794,285 shares, compared to its average volume of 3,014,156. The firm has a market capitalization of $45.41 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 2.22 and a beta of 1.65. The stock’s 50 day moving average is $76.35 and its 200-day moving average is $70.86. 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 52-week low of $55.91 and a 52-week high of $80.81.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). ONEOK had a net margin of 15.04% and a return on equity of 22.57%. The company 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 company earned $1.08 earnings per share. As a group, research analysts expect that ONEOK, Inc. will post 4.98 earnings per share for the current year.

ONEOK declared that its board has initiated a share buyback program 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 programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

OKE has been the subject of several research analyst reports. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Barclays upped their price target on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. Truist Financial increased their price objective 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. UBS Group increased their price objective on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $82.25.

ONEOK 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.