Desjardins Global Asset Management Inc. Has $468,000 Holdings in ONEOK, Inc. (NYSE:OKE)

Desjardins Global Asset Management Inc. boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 2,747.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,662 shares of the utilities provider’s stock after buying an additional 6,428 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in ONEOK were worth $468,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Regal Investment Advisors LLC boosted its stake in ONEOK by 3.6% in the third quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock valued at $294,000 after buying an additional 159 shares in the last quarter. Hoxton Planning & Management LLC raised its position in ONEOK by 5.0% in the third quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider’s stock valued at $228,000 after purchasing an additional 170 shares during the last quarter. MML Investors Services LLC raised its position in ONEOK by 0.8% in the second quarter. MML Investors Services LLC now owns 21,637 shares of the utilities provider’s stock valued at $1,335,000 after purchasing an additional 177 shares during the last quarter. Monarch Capital Management Inc. raised its position in ONEOK by 1.2% in the fourth quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock valued at $1,094,000 after purchasing an additional 183 shares during the last quarter. Finally, Arlington Trust Co LLC raised its position in shares of ONEOK by 27.9% during the fourth quarter. Arlington Trust Co LLC now owns 838 shares of the utilities provider’s stock worth $59,000 after acquiring an additional 183 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of OKE opened at $77.68 on Thursday. The firm has a market cap of $45.34 billion, a PE ratio of 14.00, a PEG ratio of 2.22 and a beta of 1.65. The stock’s fifty day moving average price is $76.35 and its two-hundred day moving average price is $70.86. 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 1 year low of $55.91 and a 1 year high of $80.81.

ONEOK (NYSE:OKE) last issued its 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 net margin of 15.04% and a return on equity of 22.57%. 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 firm earned $1.08 earnings per share. On average, equities research analysts forecast that ONEOK, Inc. will post 4.98 EPS for the current year.

ONEOK declared that its board has initiated a stock 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 purchase up to 4.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Wayne Thomas Smith acquired 2,700 shares of ONEOK stock in a transaction dated Friday, March 1st. The shares were purchased at an average cost 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 purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OKE. Truist Financial raised their price objective on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. Morgan Stanley raised their price objective on ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 26th. Raymond James raised 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. Barclays raised their target price on ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. Finally, Mizuho raised their target price on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.