OLD National Bancorp IN Sells 655 Shares of ONEOK, Inc. (NYSE:OKE)

OLD National Bancorp IN decreased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 14.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,937 shares of the utilities provider’s stock after selling 655 shares during the period. OLD National Bancorp IN’s holdings in ONEOK were worth $276,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Regal Investment Advisors LLC lifted its stake in shares of 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 last quarter. Hoxton Planning & Management LLC raised its stake in ONEOK by 5.0% in the 3rd quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider’s stock worth $228,000 after purchasing an additional 170 shares in the last quarter. Monarch Capital Management Inc. raised its stake in ONEOK by 1.2% in the 4th quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock worth $1,094,000 after purchasing an additional 183 shares in the last quarter. Arlington Trust Co LLC raised its stake in ONEOK by 27.9% in the 4th quarter. Arlington Trust Co LLC now owns 838 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 183 shares in the last quarter. Finally, Wealthfront Advisers LLC raised its stake in ONEOK by 0.3% in the 3rd quarter. Wealthfront Advisers LLC now owns 70,574 shares of the utilities provider’s stock worth $4,477,000 after purchasing an additional 190 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on OKE shares. Mizuho lifted their price objective on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Truist Financial raised their target price on shares of ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, March 21st. US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. UBS Group raised their target price on shares of ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, Stifel Nicolaus raised their target price on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $82.25.

Insider Buying and Selling

In other news, Director Wayne Thomas Smith purchased 2,700 shares of the company’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 transaction, the director now owns 2,700 shares of the company’s stock, valued at $203,175. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

ONEOK Stock Up 0.5 %

NYSE:OKE opened at $81.38 on Friday. The firm’s 50 day simple moving average is $77.60 and its 200 day simple moving average is $71.54. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. ONEOK, Inc. has a one year low of $55.91 and a one year high of $81.81. The company has a market cap of $47.50 billion, a PE ratio of 14.66, a P/E/G ratio of 4.94 and a beta of 1.65.

ONEOK (NYSE:OKE) last posted 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 return on equity of 22.57% and a net margin of 15.04%. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the business earned $1.08 earnings per share. On average, research analysts anticipate that ONEOK, Inc. will post 4.99 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.99 per share. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 4.87%. ONEOK’s dividend payout ratio is presently 71.35%.

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