Twin Capital Management Inc. Has $2.69 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Twin Capital Management Inc. decreased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,319 shares of the utilities provider’s stock after selling 883 shares during the quarter. Twin Capital Management Inc.’s holdings in ONEOK were worth $2,691,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position 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 last quarter. Moneta Group Investment Advisors LLC increased its holdings 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 worth $1,482,363,000 after acquiring an additional 22,543,516 shares during the last quarter. Deutsche Bank AG increased its holdings 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 worth $843,133,000 after acquiring an additional 3,636,660 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings 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 worth $650,502,000 after acquiring an additional 889,110 shares during the last quarter. Finally, Morgan Stanley increased its holdings 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 worth $549,305,000 after acquiring an additional 1,458,392 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Activity

In related news, Director Wayne Thomas Smith bought 2,700 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were bought 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 directly owns 2,700 shares of the company’s stock, valued at $203,175. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

ONEOK Stock Up 0.2 %

NYSE:OKE traded up $0.12 on Thursday, hitting $77.80. The stock had a trading volume of 794,285 shares, compared to its average volume of 3,014,156. The business’s fifty day moving average is $76.35 and its 200 day moving average is $70.86. The company has a market cap of $45.41 billion, a PE ratio of 14.00, a P/E/G ratio of 2.22 and a beta of 1.65. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $80.81.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share (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 firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the previous year, the company posted $1.08 EPS. On average, equities research analysts expect that ONEOK, Inc. will post 4.98 EPS for the current fiscal year.

ONEOK declared that its board has authorized a share buyback plan on Wednesday, January 17th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the utilities provider to reacquire up to 4.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

OKE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. Mizuho upped 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. Citigroup upped their target price on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Raymond James upped their price objective on ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Finally, Stifel Nicolaus increased their price target on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued 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 an average target price of $82.25.

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.