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

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

Several other large investors also recently bought and sold shares of the business. Fifth Third Bancorp grew its stake in shares of ONEOK by 16.2% during the 4th quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock valued at $1,531,000 after purchasing an additional 3,032 shares during the period. ELCO Management Co. LLC grew its stake in shares of ONEOK by 102.3% during the 3rd quarter. ELCO Management Co. LLC now owns 26,432 shares of the utilities provider’s stock valued at $1,677,000 after purchasing an additional 13,367 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of ONEOK by 11.4% during the 3rd 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 in the last quarter. Vontobel Holding Ltd. lifted its position in shares of ONEOK by 32.1% during the 4th quarter. Vontobel Holding Ltd. now owns 72,394 shares of the utilities provider’s stock valued at $5,084,000 after buying an additional 17,612 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its position in shares of ONEOK by 1.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 38,780 shares of the utilities provider’s stock valued at $2,460,000 after buying an additional 581 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Wayne Thomas Smith acquired 2,700 shares of the business’s stock in a transaction on Friday, March 1st. The shares were bought at an average price of $75.25 per share, with a total value of $203,175.00. Following the transaction, the director now directly owns 2,700 shares of the company’s stock, valued at approximately $203,175. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

ONEOK Stock Performance

NYSE OKE opened at $81.38 on Friday. The company has a market cap of $47.50 billion, a P/E ratio of 14.66, a P/E/G ratio of 4.94 and a beta of 1.65. 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 business’s 50 day moving average price is $77.60 and its 200-day moving average price is $71.54. ONEOK, Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $81.81.

ONEOK (NYSE:OKE) last released its earnings results 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 for the quarter, compared to the consensus estimate of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same period in the prior year, the firm posted $1.08 EPS. Sell-side analysts predict that ONEOK, Inc. will post 4.99 earnings per share for the current year.

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

ONEOK Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on OKE shares. Stifel Nicolaus lifted their price objective on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Mizuho lifted their price objective on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Wolfe Research raised ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Finally, Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a report on Thursday, February 8th. One 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, ONEOK has an average rating of “Hold” and an average price target of $82.25.

About ONEOK

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.