Everence Capital Management Inc. Sells 1,450 Shares of ONEOK, Inc. (NYSE:OKE)

Everence Capital Management Inc. trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 11.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,300 shares of the utilities provider’s stock after selling 1,450 shares during the period. Everence Capital Management Inc.’s holdings in ONEOK were worth $793,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of OKE. Vanguard Group Inc. raised its position in shares of ONEOK by 10.3% during the third 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 raised its position in ONEOK by 118,109.3% in 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 during the last quarter. Deutsche Bank AG raised its position in ONEOK by 37.7% in 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in ONEOK by 9.5% in 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 during the last quarter. Finally, Morgan Stanley increased 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 purchasing an additional 1,458,392 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ONEOK

In other news, Director Wayne Thomas Smith bought 2,700 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were purchased at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the acquisition, the director now owns 2,700 shares of the company’s stock, valued at $203,175. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on OKE. Mizuho raised their target price on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Morgan Stanley increased their price target on ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 26th. UBS Group increased their price target on ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Truist Financial increased their price target on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. Finally, US Capital Advisors downgraded ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $82.25.

ONEOK Stock Up 0.8 %

OKE stock opened at $77.68 on Thursday. 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 company’s 50 day moving average is $76.35 and its 200 day moving average is $70.86. The stock 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. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $80.81.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 22.57% and a net margin of 15.04%. During the same quarter last year, the company posted $1.08 earnings per share. Sell-side analysts predict that ONEOK, Inc. will post 4.98 EPS for the current fiscal year.

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

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.