CoreFirst Bank & Trust Makes New Investment in ONEOK, Inc. (NYSE:OKE)

CoreFirst Bank & Trust bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,564 shares of the utilities provider’s stock, valued at approximately $458,000.

Other hedge funds have also recently modified their holdings of the company. Kieckhefer Group LLC bought a new position in ONEOK in the 4th quarter valued at $30,000. Canton Hathaway LLC bought a new position in shares of ONEOK in the fourth quarter worth about $40,000. J.Safra Asset Management Corp purchased a new position in ONEOK in the 4th quarter worth about $48,000. VSM Wealth Advisory LLC bought a new stake in ONEOK during the 4th quarter valued at about $50,000. Finally, OFI Invest Asset Management purchased a new stake in ONEOK in the 4th quarter valued at about $51,000. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on OKE shares. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Barclays decreased their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Citigroup initiated coverage on ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 price target on the stock. Truist Financial lifted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Finally, Scotiabank dropped their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus price target of $103.31.

ONEOK Trading Up 3.0 %

Shares of NYSE:OKE opened at $102.34 on Tuesday. 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, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. The stock has a market cap of $63.89 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 3.77 and a beta of 1.70. The business has a 50-day moving average price of $98.91 and a 200-day moving average price of $99.99.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.03%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

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.