ONEOK, Inc. (NYSE:OKE) Stake Boosted by BancFirst Trust & Investment Management

BancFirst Trust & Investment Management raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,631 shares of the utilities provider’s stock after buying an additional 614 shares during the quarter. ONEOK accounts for 1.2% of BancFirst Trust & Investment Management’s portfolio, making the stock its 11th largest position. BancFirst Trust & Investment Management’s holdings in ONEOK were worth $2,583,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in OKE. HM Payson & Co. grew its stake in ONEOK by 6.3% during the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after acquiring an additional 105 shares in the last quarter. Claro Advisors LLC increased its stake in ONEOK by 1.6% in the 3rd quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock valued at $650,000 after buying an additional 115 shares during the period. Haverford Trust Co lifted its position in ONEOK by 1.2% in the 3rd quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock worth $917,000 after buying an additional 117 shares in the last quarter. Johnson Investment Counsel Inc. boosted its stake in shares of ONEOK by 0.9% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock valued at $1,111,000 after buying an additional 122 shares during the period. Finally, Brighton Jones LLC grew its holdings in shares of ONEOK by 1.1% during the 2nd quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock valued at $935,000 after acquiring an additional 122 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of OKE traded up $1.39 during mid-day trading on Thursday, reaching $101.79. The company had a trading volume of 818,167 shares, compared to its average volume of 2,817,240. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market capitalization of $59.46 billion, a P/E ratio of 21.30, a P/E/G ratio of 5.24 and a beta of 1.69. ONEOK, Inc. has a twelve month low of $67.05 and a twelve month high of $118.07. The company’s 50-day moving average is $104.78 and its 200-day moving average is $93.78.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the business earned $0.99 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on OKE shares. UBS Group boosted their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays boosted their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Truist Financial raised their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Royal Bank of Canada increased their target price on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $103.00 to $111.00 in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $101.00.

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.