Spring Capital Management LLC Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Spring Capital Management LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 5,000 shares of the utilities provider’s stock, valued at approximately $502,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its stake in shares of ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after buying an additional 661,854 shares during the last quarter. Geode Capital Management LLC grew its position in ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after acquiring an additional 138,430 shares during the last quarter. Janus Henderson Group PLC increased its stake in ONEOK by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after purchasing an additional 11,189 shares during the period. International Assets Investment Management LLC lifted its position in ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after purchasing an additional 3,197,121 shares during the last quarter. Finally, abrdn plc boosted its stake in shares of ONEOK by 14.8% during the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after purchasing an additional 277,514 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 0.4 %

NYSE:OKE opened at $109.08 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm’s 50-day moving average price is $106.13 and its 200-day moving average price is $95.46. The company has a market capitalization of $63.72 billion, a PE ratio of 22.82, a P/E/G ratio of 4.35 and a beta of 1.70. ONEOK, Inc. has a 1-year low of $67.05 and a 1-year high of $118.07.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share 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 business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the business posted $0.99 EPS. On average, equities analysts predict that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on OKE shares. Bank of America began coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Truist Financial increased their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Royal Bank of Canada boosted their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Barclays increased their price objective on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Finally, Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.54.

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.