Hoxton Planning & Management LLC Boosts Position in ONEOK, Inc. (NYSE:OKE)

Hoxton Planning & Management LLC lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 6.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,887 shares of the utilities provider’s stock after purchasing an additional 252 shares during the quarter. Hoxton Planning & Management LLC’s holdings in ONEOK were worth $312,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in ONEOK by 10.3% in the third quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock valued at $3,757,405,000 after purchasing an additional 5,525,010 shares during the last quarter. Deutsche Bank AG grew its stake in shares of ONEOK by 37.7% in the third 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. grew its stake in shares of ONEOK by 21.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,408,725 shares of the utilities provider’s stock worth $871,341,000 after acquiring an additional 2,153,295 shares during the last quarter. Morgan Stanley grew its stake in shares of ONEOK by 20.3% in the third 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. Finally, Northern Trust Corp lifted its holdings in shares of ONEOK by 1.5% during the fourth quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock valued at $404,055,000 after purchasing an additional 85,736 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

ONEOK stock traded down $0.45 during midday trading on Wednesday, hitting $80.57. 315,088 shares of the company were exchanged, compared to its average volume of 2,839,585. The firm has a market capitalization of $47.02 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 4.34 and a beta of 1.65. ONEOK, Inc. has a fifty-two week low of $58.51 and a fifty-two week high of $83.31. The business has a fifty day simple moving average of $80.00 and a two-hundred day simple moving average of $75.58. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. The firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period last year, the company earned $2.34 earnings per share. On average, sell-side analysts forecast that ONEOK, Inc. will post 4.94 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a $0.99 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $3.96 annualized dividend and a dividend yield of 4.91%. ONEOK’s dividend payout ratio is presently 92.09%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on OKE shares. Truist Financial upped their price target on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, March 21st. Mizuho increased their target price on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. JPMorgan Chase & Co. increased their target price on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company increased their target price on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Stifel Nicolaus increased their target price on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $84.50.

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.