Quantum Private Wealth LLC Has $352,000 Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Quantum Private Wealth LLC reduced its position in ONEOK, Inc. (NYSE:OKE) by 5.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,007 shares of the utilities provider’s stock after selling 303 shares during the period. Quantum Private Wealth LLC’s holdings in ONEOK were worth $352,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in OKE. Peoples Bank KS bought a new stake in ONEOK during the 3rd quarter worth about $25,000. First Command Bank raised its stake in shares of ONEOK by 401.0% during the second quarter. First Command Bank now owns 491 shares of the utilities provider’s stock worth $27,000 after buying an additional 393 shares during the last quarter. Quent Capital LLC lifted its holdings in ONEOK by 97.7% in the third quarter. Quent Capital LLC now owns 437 shares of the utilities provider’s stock valued at $28,000 after buying an additional 216 shares during the period. Beacon Capital Management LLC grew its holdings in ONEOK by 90.7% during the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 194 shares during the period. Finally, Resurgent Financial Advisors LLC acquired a new stake in ONEOK during the 4th quarter worth $29,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OKE. Stifel Nicolaus lifted their target price on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays lifted their target price on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Finally, Truist Financial lifted their target price on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. 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. According to MarketBeat, ONEOK presently has a consensus rating of “Hold” and an average price target of $82.25.

ONEOK Stock Down 1.0 %

Shares of OKE traded down $0.77 during midday trading on Wednesday, hitting $77.08. The stock had a trading volume of 3,633,684 shares, compared to its average volume of 2,529,860. The firm has a market cap of $44.99 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 2.24 and a beta of 1.65. The company has a 50 day simple moving average of $76.17 and a two-hundred day simple moving average of $70.81. ONEOK, Inc. has a twelve month low of $55.91 and a twelve month high of $80.81. 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 (NYSE:OKE) last posted its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The firm had revenue of $5.24 billion for 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 in the previous year, the business posted $1.08 earnings per share. On average, analysts anticipate that ONEOK, Inc. will post 4.98 EPS for the current year.

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

Insider Activity

In other ONEOK news, Director Wayne Thomas Smith acquired 2,700 shares of the stock in a transaction dated Friday, March 1st. The shares were bought at an average cost 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by corporate insiders.

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.