Spring Capital Management LLC Acquires Shares of 5,000 ONEOK, Inc. (NYSE:OKE)

Spring Capital Management LLC bought a new position in ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,000 shares of the utilities provider’s stock, valued at approximately $502,000.

A number of other institutional investors have also recently made changes to their positions in OKE. Quest Partners LLC bought a new position in ONEOK in the 2nd quarter valued at approximately $28,000. Matrix Trust Co bought a new position in shares of ONEOK during the third quarter valued at $29,000. Kieckhefer Group LLC purchased a new stake in shares of ONEOK during the fourth quarter valued at $30,000. Access Investment Management LLC bought a new stake in ONEOK in the 3rd quarter worth about $37,000. Finally, Values First Advisors Inc. purchased a new position in ONEOK in the 3rd quarter worth about $44,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

OKE opened at $109.08 on Friday. The firm has a market cap of $63.72 billion, a P/E ratio of 22.82, a PEG ratio of 4.35 and a beta of 1.70. ONEOK, Inc. has a 1-year low of $67.05 and a 1-year high of $118.07. The company has a 50 day simple moving average of $106.13 and a two-hundred day simple moving average of $95.46. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

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). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the company posted $0.99 EPS. Equities analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on OKE. UBS Group lifted their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Truist Financial increased their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Scotiabank began coverage on ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target on the stock. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research report on Wednesday, December 18th. Finally, Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.54.

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.