Quantum Private Wealth LLC Sells 303 Shares of ONEOK, Inc. (NYSE:OKE)

Quantum Private Wealth LLC lowered its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 5.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,007 shares of the utilities provider’s stock after selling 303 shares during the period. Quantum Private Wealth LLC’s holdings in ONEOK were worth $352,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of OKE. Fifth Third Bancorp raised its holdings in ONEOK by 16.2% during the 4th quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock worth $1,531,000 after purchasing an additional 3,032 shares during the last quarter. ELCO Management Co. LLC raised its stake in ONEOK by 102.3% during the third quarter. ELCO Management Co. LLC now owns 26,432 shares of the utilities provider’s stock worth $1,677,000 after buying an additional 13,367 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in ONEOK by 11.4% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,729 shares of the utilities provider’s stock valued at $490,000 after buying an additional 790 shares during the period. Prime Capital Investment Advisors LLC grew its holdings in ONEOK by 1.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 38,780 shares of the utilities provider’s stock worth $2,460,000 after acquiring an additional 581 shares during the period. Finally, Insight Folios Inc acquired a new position in shares of ONEOK in the 3rd quarter valued at about $4,998,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Buying and Selling

In related news, Director Wayne Thomas Smith purchased 2,700 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were bought at an average cost of $75.25 per share, with a total value of $203,175.00. Following the acquisition, the director now owns 2,700 shares of the company’s stock, valued at $203,175. The acquisition 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 corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on OKE. Wolfe Research upgraded ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. increased their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. Barclays lifted their price target on shares of ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. Finally, Citigroup increased their price objective on shares of ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, ONEOK has an average rating of “Hold” and a consensus target price of $82.25.

ONEOK Stock Down 1.0 %

NYSE OKE traded down $0.77 on Wednesday, reaching $77.08. The company had a trading volume of 3,633,684 shares, compared to its average volume of 2,529,860. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. The company’s fifty day moving average is $76.17 and its 200 day moving average is $70.81. ONEOK, Inc. has a 52-week low of $55.91 and a 52-week high of $80.81. The stock has a market capitalization of $44.99 billion, a P/E ratio of 13.89, a P/E/G ratio of 2.24 and a beta of 1.65.

ONEOK (NYSE:OKE) last announced its 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 net margin of 15.04% and a return on equity of 22.57%. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the prior year, the company earned $1.08 EPS. Sell-side analysts anticipate that ONEOK, Inc. will post 4.98 earnings per share for the current fiscal year.

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

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.