MCF Advisors LLC Increases Stock Position in ONEOK, Inc. (NYSE:OKE)

MCF Advisors LLC lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 14.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,771 shares of the utilities provider’s stock after buying an additional 347 shares during the period. MCF Advisors LLC’s holdings in ONEOK were worth $278,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC raised its position in ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after acquiring an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after purchasing an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in ONEOK in the third quarter worth $47,957,000. Yaupon Capital Management LP bought a new stake in shares of ONEOK in the third quarter valued at $45,194,000. Finally, National Bank of Canada FI lifted its position in shares of ONEOK by 199.9% during the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock valued at $63,605,000 after buying an additional 465,243 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

Shares of OKE stock opened at $109.84 on Wednesday. The stock has a fifty day moving average of $106.17 and a 200 day moving average of $96.02. ONEOK, Inc. has a 52 week low of $67.05 and a 52 week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $64.17 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 4.66 and a beta of 1.70.

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

Analyst Ratings Changes

Several brokerages recently weighed in on OKE. Bank of America started coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective for the company. UBS Group boosted their price target 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. Truist Financial increased their target price on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research report on Wednesday, December 18th. Finally, Scotiabank started coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target on the stock. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $102.92.

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.