Coppell Advisory Solutions Corp. Invests $218,000 in ONEOK, Inc. (NYSE:OKE)

Coppell Advisory Solutions Corp. bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,722 shares of the utilities provider’s stock, valued at approximately $218,000.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in ONEOK during the 4th quarter valued at $297,948,000. International Assets Investment Management LLC boosted its position in ONEOK by 5,247.1% during the 4th quarter. International Assets Investment Management LLC now owns 2,463,929 shares of the utilities provider’s stock worth $173,017,000 after acquiring an additional 2,417,849 shares during the period. Charles Schwab Investment Management Inc. grew its stake in ONEOK by 21.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,408,725 shares of the utilities provider’s stock valued at $871,341,000 after acquiring an additional 2,153,295 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of ONEOK by 77.9% in the 4th quarter. First Eagle Investment Management LLC now owns 3,086,559 shares of the utilities provider’s stock valued at $216,738,000 after purchasing an additional 1,351,626 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of ONEOK by 2,643.5% in the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock worth $82,209,000 after purchasing an additional 1,128,066 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of NYSE OKE traded down $2.94 during midday trading on Friday, reaching $79.12. 717,921 shares of the company traded hands, compared to its average volume of 2,731,989. The stock’s 50-day simple moving average is $81.44 and its 200-day simple moving average is $77.93. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. ONEOK, Inc. has a 12 month low of $60.58 and a 12 month high of $86.20. The firm has a market cap of $46.18 billion, a PE ratio of 19.08, a PEG ratio of 4.43 and a beta of 1.65.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The business had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the previous year, the business earned $2.34 EPS. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.02 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend is Thursday, August 1st. ONEOK’s dividend payout ratio is currently 92.09%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Mizuho raised their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Stifel Nicolaus boosted their target price on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Truist Financial raised their price target on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $85.00.

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.