MCF Advisors LLC Raises Stake in ONEOK, Inc. (NYSE:OKE)

MCF Advisors LLC lifted its stake in ONEOK, Inc. (NYSE:OKE) by 14.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,771 shares of the utilities provider’s stock after purchasing an additional 347 shares during the quarter. MCF Advisors LLC’s holdings in ONEOK were worth $278,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Matrix Trust Co purchased a new position in shares of ONEOK in the third quarter worth $29,000. Kieckhefer Group LLC purchased a new stake in ONEOK during the fourth quarter valued at $30,000. Access Investment Management LLC bought a new position in ONEOK in the third quarter valued at about $37,000. Values First Advisors Inc. purchased a new position in ONEOK in the third quarter worth about $44,000. Finally, Fortitude Family Office LLC increased its position in shares of ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on OKE. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a report on Wednesday, December 18th. UBS Group boosted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Scotiabank assumed coverage on ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price on the stock. Barclays boosted their price target on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, Truist Financial lifted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $102.92.

ONEOK Price Performance

OKE stock opened at $109.84 on Wednesday. The company has a market capitalization of $64.17 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 4.66 and a beta of 1.70. ONEOK, Inc. has a one year low of $67.05 and a one year high of $118.07. 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 company’s fifty day moving average price is $106.17 and its 200-day moving average price is $96.02.

ONEOK (NYSE:OKE) last posted 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 return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter last year, the firm earned $0.99 earnings per share. On average, equities analysts anticipate that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

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.