SignalPoint Asset Management LLC Raises Stake in ONEOK, Inc. (NYSE:OKE)

SignalPoint Asset Management LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 22.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,297 shares of the utilities provider’s stock after acquiring an additional 1,917 shares during the period. SignalPoint Asset Management LLC’s holdings in ONEOK were worth $1,034,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of OKE. International Assets Investment Management LLC boosted its position in shares of ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after acquiring an additional 3,197,121 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after acquiring an additional 661,854 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of ONEOK in the third quarter worth approximately $47,957,000. Yaupon Capital Management LP acquired a new stake in shares of ONEOK in the third quarter worth approximately $45,194,000. Finally, National Bank of Canada FI boosted its position in shares of ONEOK by 199.9% in the third quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock worth $63,605,000 after acquiring an additional 465,243 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Up 0.7 %

OKE opened at $106.83 on Thursday. The firm has a market capitalization of $62.41 billion, a P/E ratio of 22.35, a P/E/G ratio of 4.35 and a beta of 1.70. The firm’s 50 day moving average is $105.95 and its 200-day moving average is $95.28. ONEOK, Inc. has a 52-week low of $67.05 and a 52-week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last issued its quarterly 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 company had revenue of $5.02 billion during the quarter, compared to the consensus estimate 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 firm posted $0.99 EPS. Analysts expect that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on OKE shares. Bank of America initiated coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Truist Financial lifted their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Barclays lifted their price target on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research report on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.54.

ONEOK 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.