Magnolia Capital Management Ltd. Has $400,000 Holdings in ONEOK, Inc. (NYSE:OKE)

Magnolia Capital Management Ltd. lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 13.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,982 shares of the utilities provider’s stock after selling 639 shares during the period. Magnolia Capital Management Ltd.’s holdings in ONEOK were worth $400,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of ONEOK by 3.9% in the 3rd 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 in the last quarter. Geode Capital Management LLC grew its position in ONEOK by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after purchasing an additional 138,430 shares in the last quarter. Janus Henderson Group PLC increased its stake in ONEOK by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after buying an additional 11,189 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of ONEOK by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after buying an additional 132,326 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after buying an additional 3,197,121 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on OKE shares. Scotiabank assumed coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target for the company. Royal Bank of Canada raised their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Bank of America assumed coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. Barclays raised their price objective on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Finally, Truist Financial boosted their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.54.

ONEOK Price Performance

ONEOK stock opened at $106.83 on Thursday. 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, Inc. has a one year low of $67.05 and a one year high of $118.07. The firm has a market capitalization of $62.41 billion, a P/E ratio of 22.35, a PEG ratio of 4.35 and a beta of 1.70. The business has a fifty day moving average price of $105.95 and a 200-day moving average price of $95.28.

ONEOK (NYSE:OKE) last announced its quarterly earnings results 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). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the company earned $0.99 earnings per share. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current year.

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.