Sprott Inc. Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Sprott Inc. acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,400 shares of the utilities provider’s stock, valued at approximately $341,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of OKE. Kieckhefer Group LLC purchased a new position in ONEOK during the 4th quarter valued at about $30,000. Access Investment Management LLC bought a new stake in shares of ONEOK in the 3rd quarter worth approximately $37,000. Canton Hathaway LLC purchased a new position in shares of ONEOK during the fourth quarter valued at approximately $40,000. Fortitude Family Office LLC raised its holdings in shares of ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 135 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 260 shares during the period. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on OKE shares. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research report on Monday, February 10th. Barclays assumed coverage on shares of ONEOK in a research note on Thursday, February 6th. They set an “equal weight” rating and a $105.00 target price on the stock. Truist Financial increased their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, Scotiabank started coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.54.

ONEOK Trading Down 0.1 %

ONEOK stock opened at $95.69 on Thursday. ONEOK, Inc. has a 12 month low of $73.39 and a 12 month high of $118.07. The company has a market capitalization of $55.90 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The business’s fifty day simple moving average is $100.93 and its two-hundred day simple moving average is $99.01. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.46 by $0.11. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.31%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 86.19%.

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.