Anderson Hoagland & Co. Takes Position in ONEOK, Inc. (NYSE:OKE)

Anderson Hoagland & Co. purchased a new position in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,985 shares of the utilities provider’s stock, valued at approximately $216,000.

A number of other hedge funds have also recently made changes to their positions in the stock. National Pension Service lifted its position in shares of ONEOK by 1.6% during the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after buying an additional 12,349 shares during the last quarter. Leavell Investment Management Inc. raised its stake in shares of ONEOK by 3.8% during the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after acquiring an additional 5,175 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its position in ONEOK by 11.1% during the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock valued at $4,972,000 after acquiring an additional 5,451 shares during the last quarter. Sageworth Trust Co acquired a new stake in ONEOK in the third quarter valued at approximately $568,000. Finally, Fifth Third Wealth Advisors LLC boosted its stake in ONEOK by 222.3% in the third quarter. Fifth Third Wealth Advisors LLC now owns 16,181 shares of the utilities provider’s stock valued at $1,475,000 after acquiring an additional 11,160 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

NYSE OKE opened at $104.42 on Friday. The firm has a market capitalization of $61.00 billion, a P/E ratio of 21.84, a PEG ratio of 4.03 and a beta of 1.70. The stock has a 50-day simple moving average of $106.00 and a two-hundred day simple moving average of $96.50. 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 fifty-two week low of $67.05 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly 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 net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the prior year, the business posted $0.99 earnings per share. On average, equities analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a dividend of $1.03 per share. The ex-dividend date is Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 3.95%. ONEOK’s dividend payout ratio is 82.85%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Royal Bank of Canada increased their price objective on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. Truist Financial boosted their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. 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 objective on the stock. Finally, Bank of America assumed coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.92.

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.