InvesTrust Buys Shares of 11,352 ONEOK, Inc. (NYSE:OKE)

InvesTrust purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,352 shares of the utilities provider’s stock, valued at approximately $1,144,000.

Other hedge funds have also made changes to their positions in the company. Quest Partners LLC purchased a new stake in shares of ONEOK during the second quarter valued at about $28,000. Matrix Trust Co acquired a new stake in ONEOK during the 3rd quarter worth about $29,000. Access Investment Management LLC purchased a new stake in ONEOK in the third quarter valued at approximately $37,000. Values First Advisors Inc. acquired a new stake in shares of ONEOK in the third quarter worth $44,000. Finally, Fortitude Family Office LLC grew its position in ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 135 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of ONEOK stock traded up $0.74 on Wednesday, reaching $102.35. 934,189 shares of the company were exchanged, compared to its average volume of 2,193,674. The firm has a market cap of $59.79 billion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 5.24 and a beta of 1.70. The company’s 50-day moving average is $105.22 and its two-hundred day moving average is $94.49. ONEOK, Inc. has a 1-year low of $67.05 and a 1-year high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $5.02 billion for 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 period in the prior year, the business earned $0.99 earnings per share. As a group, research analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.87%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is currently 82.85%.

Analyst Upgrades and Downgrades

OKE has been the subject of several analyst reports. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Barclays lifted their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Wells Fargo & Company cut shares of 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, 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 investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.00.

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.