Hennessy Advisors Inc. Has $28.94 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Hennessy Advisors Inc. reduced its stake in ONEOK, Inc. (NYSE:OKE) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 288,245 shares of the utilities provider’s stock after selling 20,900 shares during the quarter. Hennessy Advisors Inc.’s holdings in ONEOK were worth $28,940,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Morton Capital Management LLC CA raised its holdings in shares of ONEOK by 1.4% in the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock valued at $734,000 after purchasing an additional 104 shares during the last quarter. HM Payson & Co. increased its position in ONEOK by 6.3% during the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after buying an additional 105 shares during the last quarter. Ritholtz Wealth Management raised its stake in ONEOK by 4.7% in the 4th quarter. Ritholtz Wealth Management now owns 2,363 shares of the utilities provider’s stock valued at $237,000 after acquiring an additional 106 shares during the period. Claro Advisors LLC raised its position in shares of ONEOK by 1.6% in the third quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock valued at $650,000 after purchasing an additional 115 shares during the period. Finally, Haverford Trust Co lifted its position in ONEOK by 1.2% during the third quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock worth $917,000 after acquiring an additional 117 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OKE has been the topic of a number of research reports. Barclays upped their price objective on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Truist Financial upped their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. UBS Group upped their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Finally, Scotiabank assumed coverage on shares of ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $101.54.

ONEOK Stock Up 1.6 %

ONEOK stock opened at $108.59 on Friday. The company has a market capitalization of $63.43 billion, a PE ratio of 22.72, a PEG ratio of 4.35 and a beta of 1.70. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07. The firm’s fifty day moving average is $106.04 and its 200 day moving average is $95.36. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the previous year, the firm earned $0.99 earnings per share. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.1 EPS for the current fiscal 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.