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

Tranquility Partners LLC decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,446 shares of the utilities provider’s stock after selling 584 shares during the quarter. Tranquility Partners LLC’s holdings in ONEOK were worth $804,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of ONEOK by 10.3% during the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after purchasing an additional 5,525,010 shares during the period. Moneta Group Investment Advisors LLC lifted its position in shares of ONEOK by 118,109.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 22,562,603 shares of the utilities provider’s stock valued at $1,482,363,000 after buying an additional 22,543,516 shares in the last quarter. Deutsche Bank AG lifted its position in shares of ONEOK by 37.7% during the 3rd quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock valued at $843,133,000 after buying an additional 3,636,660 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of ONEOK by 9.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,255,430 shares of the utilities provider’s stock valued at $650,502,000 after buying an additional 889,110 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of ONEOK by 20.3% during the 3rd quarter. Morgan Stanley now owns 8,660,013 shares of the utilities provider’s stock valued at $549,305,000 after buying an additional 1,458,392 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 0.8 %

Shares of NYSE OKE traded up $0.60 during trading on Wednesday, hitting $77.68. 2,647,218 shares of the company were exchanged, compared to its average volume of 3,044,970. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $80.81. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90. The company has a fifty day moving average price of $76.17 and a 200-day moving average price of $70.81. The firm has a market capitalization of $45.34 billion, a PE ratio of 14.04, a P/E/G ratio of 2.24 and a beta of 1.65.

ONEOK (NYSE:OKE) last posted 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). The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.57 billion. ONEOK had a return on equity of 22.57% and a net margin of 15.04%. During the same quarter in the prior year, the firm earned $1.08 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 4.98 EPS for the current year.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on OKE shares. Seaport Res Ptn upgraded ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. Morgan Stanley increased their target price on ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 26th. Stifel Nicolaus raised their price objective on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, Mizuho raised their price objective on ONEOK from $75.00 to $81.00 and gave the company a “neutral” 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 nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ONEOK has an average rating of “Hold” and an average price target of $82.25.

Insider Buying and Selling

In other ONEOK news, Director Wayne Thomas Smith acquired 2,700 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average cost of $75.25 per share, with a total value of $203,175.00. Following the transaction, the director now owns 2,700 shares of the company’s stock, valued at $203,175. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

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.