ONEOK, Inc. (NYSE:OKE) Shares Acquired by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 2,747.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,662 shares of the utilities provider’s stock after buying an additional 6,428 shares during the period. Desjardins Global Asset Management Inc.’s holdings in ONEOK were worth $468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. SVB Wealth LLC increased its holdings in shares of ONEOK by 6.0% during the 4th quarter. SVB Wealth LLC now owns 21,019 shares of the utilities provider’s stock worth $1,476,000 after buying an additional 1,193 shares during the last quarter. Flputnam Investment Management Co. increased its holdings in ONEOK by 9.2% in the 4th quarter. Flputnam Investment Management Co. now owns 13,837 shares of the utilities provider’s stock valued at $972,000 after purchasing an additional 1,171 shares during the last quarter. Keel Point LLC acquired a new stake in ONEOK in the 4th quarter valued at approximately $259,000. Sippican Capital Advisors acquired a new stake in ONEOK in the 4th quarter valued at approximately $216,000. Finally, Mackenzie Financial Corp increased its holdings in ONEOK by 1.4% in the 4th quarter. Mackenzie Financial Corp now owns 149,564 shares of the utilities provider’s stock valued at $10,502,000 after purchasing an additional 2,048 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Activity

In other ONEOK news, Director Wayne Thomas Smith bought 2,700 shares of ONEOK stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $75.25 per share, with a total value 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

ONEOK Price Performance

Shares of OKE opened at $77.68 on Thursday. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $80.81. The stock has a market cap of $45.34 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 2.22 and a beta of 1.65. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. The firm has a fifty day moving average price of $76.35 and a 200 day moving average price of $70.86.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). ONEOK had a net margin of 15.04% and a return on equity of 22.57%. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the previous year, the company posted $1.08 earnings per share. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 4.98 EPS for the current year.

ONEOK declared that its Board of Directors 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 purchase up to 4.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have commented on OKE. Stifel Nicolaus boosted their price target on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group lifted their price objective on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Seaport Res Ptn raised shares of ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. Finally, Barclays lifted their price objective on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and a consensus target price of $82.25.

ONEOK Company 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.