Morton Capital Management LLC CA Has $734,000 Stock Position in ONEOK, Inc. (NYSE:OKE)

Morton Capital Management LLC CA boosted its position in ONEOK, Inc. (NYSE:OKE) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,313 shares of the utilities provider’s stock after acquiring an additional 104 shares during the period. Morton Capital Management LLC CA’s holdings in ONEOK were worth $734,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new stake in shares of ONEOK in the 4th quarter worth about $30,000. Matrix Trust Co bought a new stake in ONEOK during the 3rd quarter worth approximately $29,000. Quest Partners LLC purchased a new stake in shares of ONEOK in the second quarter worth approximately $28,000. Access Investment Management LLC bought a new position in shares of ONEOK in the third quarter valued at approximately $37,000. Finally, Values First Advisors Inc. purchased a new position in shares of ONEOK during the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the topic of several recent analyst reports. UBS Group raised their price objective 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 price target 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. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada boosted their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Finally, Truist Financial increased their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.54.

ONEOK Price Performance

Shares of NYSE:OKE opened at $108.59 on Friday. The firm has a market capitalization of $63.43 billion, a PE ratio of 22.72, a P/E/G ratio of 4.35 and a beta of 1.70. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a 50-day moving average price of $106.04 and a two-hundred day moving average price of $95.36. ONEOK, Inc. has a twelve month low of $67.05 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $5.81 billion. During the same period last year, the business posted $0.99 earnings per share. Equities analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current year.

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.