Callan Family Office LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,432 shares of the utilities provider's stock, valued at approximately $646,000.
Several other hedge funds have also made changes to their positions in the stock. QRG Capital Management Inc. grew its position in ONEOK by 6.5% in the 3rd quarter. QRG Capital Management Inc. now owns 5,936 shares of the utilities provider's stock worth $541,000 after purchasing an additional 364 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of ONEOK by 3.5% during the third quarter. Principal Financial Group Inc. now owns 710,314 shares of the utilities provider's stock worth $64,731,000 after buying an additional 24,193 shares during the period. Equitable Trust Co. bought a new position in ONEOK in the 3rd quarter worth approximately $458,000. SpiderRock Advisors LLC increased its position in ONEOK by 1.8% in the 3rd quarter. SpiderRock Advisors LLC now owns 8,093 shares of the utilities provider's stock valued at $738,000 after acquiring an additional 147 shares during the period. Finally, Atria Investments Inc raised its stake in ONEOK by 76.9% during the 3rd quarter. Atria Investments Inc now owns 23,561 shares of the utilities provider's stock valued at $2,147,000 after acquiring an additional 10,240 shares in the last quarter. Institutional investors own 69.13% of the company's stock.
OKE has been the subject of several recent analyst reports. US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Barclays lowered their target price on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Friday. Truist Financial boosted their price target 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. UBS Group increased their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a "buy" rating in a report on Friday, November 15th. Finally, Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price for the company in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $103.31.
View Our Latest Report on OKE
Shares of ONEOK stock traded up $1.89 on Monday, reaching $91.46. 5,994,733 shares of the company were exchanged, compared to its average volume of 4,128,707. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07. The firm has a market capitalization of $57.10 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The stock has a fifty day moving average price of $100.00 and a 200-day moving average price of $99.46.
ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.50%. This is a boost from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK's payout ratio is presently 79.69%.
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.
Before you consider ONEOK, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ONEOK wasn't on the list.
While ONEOK currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.