Simon Quick Advisors LLC Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Simon Quick Advisors LLC bought a new stake in ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,502 shares of the utilities provider’s stock, valued at approximately $251,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after acquiring an additional 661,854 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 buying an additional 138,430 shares in the last quarter. Janus Henderson Group PLC boosted its position 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 valued at $341,844,000 after buying an additional 11,189 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after buying an additional 3,197,121 shares during the period. Finally, abrdn plc raised its position 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 worth $195,545,000 after acquiring an additional 277,514 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on OKE shares. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. UBS Group lifted their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Scotiabank started coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective on the stock. Truist Financial lifted 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. Finally, Royal Bank of Canada raised their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $102.92.

ONEOK Price Performance

Shares of OKE opened at $104.42 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market capitalization of $61.00 billion, a PE ratio of 21.84, a P/E/G ratio of 4.03 and a beta of 1.70. The stock has a 50 day simple moving average of $106.11 and a 200 day simple moving average of $96.34. ONEOK, Inc. has a 52-week low of $67.05 and a 52-week high of $118.07.

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

ONEOK Increases Dividend

The company also recently disclosed 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 of this dividend 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 dividend yield of 3.95%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

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.