HighPoint Advisor Group LLC Buys Shares of 21,818 ONEOK, Inc. (NYSE:OKE)

HighPoint Advisor Group LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 21,818 shares of the utilities provider’s stock, valued at approximately $1,532,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Beacon Capital Management LLC boosted its position in ONEOK by 90.7% during the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 194 shares during the period. HHM Wealth Advisors LLC bought a new position in ONEOK in the 4th quarter valued at about $32,000. Loomis Sayles & Co. L P increased its stake in ONEOK by 605.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock valued at $35,000 after buying an additional 478 shares during the period. Security National Bank bought a new stake in shares of ONEOK during the 4th quarter worth about $35,000. Finally, SOA Wealth Advisors LLC. lifted its stake in shares of ONEOK by 283.5% in the 4th quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 377 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Price Performance

OKE opened at $80.06 on Wednesday. The firm has a market capitalization of $46.73 billion, a P/E ratio of 18.62, a PEG ratio of 4.24 and a beta of 1.65. The stock has a fifty day moving average of $79.78 and a 200-day moving average of $75.16. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. ONEOK, Inc. has a 12-month low of $57.37 and a 12-month high of $83.31.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. The firm had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period in the prior year, the business earned $2.34 EPS. Equities analysts forecast that ONEOK, Inc. will post 4.94 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 4.95%. ONEOK’s payout ratio is 92.09%.

Analysts Set New Price Targets

OKE has been the topic of a number of research analyst reports. Citigroup raised their price objective on shares of ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Truist Financial lifted their target price on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Morgan Stanley upped their price target on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Monday, June 10th. Finally, UBS Group lifted their price objective on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $84.25.

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.