City State Bank Acquires 540 Shares of ONEOK, Inc. (NYSE:OKE)

City State Bank boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 108.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,040 shares of the utilities provider’s stock after purchasing an additional 540 shares during the quarter. City State Bank’s holdings in ONEOK were worth $104,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OKE. Quest Partners LLC bought a new position in ONEOK in the 2nd quarter worth approximately $28,000. American Century Companies Inc. boosted its stake in ONEOK by 10.8% in the 2nd quarter. American Century Companies Inc. now owns 742,649 shares of the utilities provider’s stock worth $60,563,000 after purchasing an additional 72,241 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of ONEOK by 7.4% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 46,772 shares of the utilities provider’s stock valued at $3,814,000 after acquiring an additional 3,209 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of ONEOK by 7.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 132,969 shares of the utilities provider’s stock valued at $10,712,000 after acquiring an additional 8,725 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of ONEOK by 13.7% during the 2nd quarter. Parallel Advisors LLC now owns 10,281 shares of the utilities provider’s stock valued at $838,000 after acquiring an additional 1,239 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OKE. Royal Bank of Canada increased their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Scotiabank began coverage on ONEOK in a research report on Friday. They set a “sector outperform” rating and a $109.00 target price for the company. Truist Financial increased their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $103.00 to $111.00 in a report on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $101.54.

ONEOK Stock Performance

OKE stock opened at $103.92 on Tuesday. The firm has a market cap of $60.71 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 5.24 and a beta of 1.70. 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 twelve month low of $67.05 and a twelve month high of $118.07. The business’s fifty day simple moving average is $105.80 and its two-hundred day simple moving average is $95.11.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the prior year, the business posted $0.99 EPS. Analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.81%. ONEOK’s dividend payout ratio is currently 82.85%.

About ONEOK

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.