ONEOK, Inc. (NYSE:OKE) Shares Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 847,465 shares of the utilities provider’s stock after selling 35,208 shares during the period. ONEOK makes up about 5.6% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings, making the stock its 4th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in ONEOK were worth $85,085,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of OKE. Marshall Wace LLP acquired a new position in ONEOK during the second quarter worth $16,046,000. Fred Alger Management LLC boosted its position in shares of ONEOK by 6.1% in the 2nd quarter. Fred Alger Management LLC now owns 40,470 shares of the utilities provider’s stock worth $3,300,000 after buying an additional 2,336 shares in the last quarter. AQR Capital Management LLC grew its stake in ONEOK by 0.4% in the 2nd quarter. AQR Capital Management LLC now owns 93,486 shares of the utilities provider’s stock valued at $7,566,000 after acquiring an additional 383 shares during the last quarter. Daymark Wealth Partners LLC increased its holdings in ONEOK by 35.9% during the 2nd quarter. Daymark Wealth Partners LLC now owns 5,513 shares of the utilities provider’s stock valued at $450,000 after acquiring an additional 1,455 shares in the last quarter. Finally, MBB Public Markets I LLC raised its position in ONEOK by 481.4% during the second quarter. MBB Public Markets I LLC now owns 44,189 shares of the utilities provider’s stock worth $3,604,000 after acquiring an additional 36,589 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of ONEOK stock opened at $104.42 on Friday. The business’s fifty day moving average price is $106.11 and its 200 day moving average price is $96.34. ONEOK, Inc. has a twelve month low of $67.05 and a twelve month high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $61.00 billion, a P/E ratio of 21.84, a PEG ratio of 4.03 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the prior year, the firm earned $0.99 earnings per share. As a group, research analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on OKE shares. Barclays upped their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. UBS Group increased their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Truist Financial boosted their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada raised their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.

ONEOK 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.