Xponance Inc. Has $8.10 Million Stake in ONEOK, Inc. (NYSE:OKE)

Xponance Inc. raised its position in ONEOK, Inc. (NYSE:OKE) by 3.0% during the fourth quarter, Holdings Channel reports. The firm owned 80,636 shares of the utilities provider’s stock after purchasing an additional 2,335 shares during the period. Xponance Inc.’s holdings in ONEOK were worth $8,096,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Generali Asset Management SPA SGR bought a new stake in shares of ONEOK in the 4th quarter valued at $10,174,000. Horizon Investments LLC increased its stake in shares of ONEOK by 1.6% in the 4th quarter. Horizon Investments LLC now owns 9,486 shares of the utilities provider’s stock valued at $942,000 after acquiring an additional 150 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of ONEOK by 9.0% in the 4th quarter. Advisors Asset Management Inc. now owns 93,325 shares of the utilities provider’s stock valued at $9,370,000 after acquiring an additional 7,694 shares in the last quarter. South Street Advisors LLC increased its stake in shares of ONEOK by 460.4% in the 4th quarter. South Street Advisors LLC now owns 71,849 shares of the utilities provider’s stock valued at $7,214,000 after acquiring an additional 59,029 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. bought a new stake in shares of ONEOK in the 4th quarter valued at $226,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

OKE opened at $97.95 on Wednesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market capitalization of $61.15 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 3.77 and a beta of 1.70. The firm’s fifty day moving average price is $99.08 and its two-hundred day moving average price is $99.74. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings data 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 firm 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, analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date was Monday, February 3rd. ONEOK’s payout ratio is 79.69%.

Analysts Set New Price Targets

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

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.