Court Place Advisors LLC Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Court Place Advisors LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,106 shares of the utilities provider’s stock, valued at approximately $211,000.

A number of other hedge funds have also modified their holdings of the business. Nilsine Partners LLC grew its holdings in ONEOK by 163.2% during the 4th quarter. Nilsine Partners LLC now owns 8,065 shares of the utilities provider’s stock valued at $810,000 after buying an additional 5,001 shares during the last quarter. Foundations Investment Advisors LLC boosted its stake in shares of ONEOK by 7.8% during the fourth quarter. Foundations Investment Advisors LLC now owns 8,258 shares of the utilities provider’s stock valued at $829,000 after acquiring an additional 598 shares during the last quarter. KBC Group NV increased its position in ONEOK by 7.0% during the 4th quarter. KBC Group NV now owns 48,556 shares of the utilities provider’s stock worth $4,875,000 after purchasing an additional 3,173 shares in the last quarter. Capital Asset Advisory Services LLC lifted its holdings in ONEOK by 20.6% in the 4th quarter. Capital Asset Advisory Services LLC now owns 5,064 shares of the utilities provider’s stock valued at $521,000 after purchasing an additional 865 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of ONEOK by 17.2% during the 4th quarter. Blue Trust Inc. now owns 6,844 shares of the utilities provider’s stock worth $687,000 after purchasing an additional 1,006 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OKE. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Truist Financial boosted 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. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Scotiabank initiated coverage on ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price for the company. Finally, Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research note on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $102.92.

ONEOK Stock Down 4.0 %

Shares of NYSE:OKE opened at $100.38 on Tuesday. The stock has a market capitalization of $58.64 billion, a P/E ratio of 21.00, a PEG ratio of 4.03 and a beta of 1.70. 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, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07. The stock has a 50-day simple moving average of $106.00 and a 200-day simple moving average of $96.70.

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

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 82.85%.

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.