Oak Thistle LLC Trims Holdings in ONEOK, Inc. (NYSE:OKE)

Oak Thistle LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 27.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,922 shares of the utilities provider’s stock after selling 4,047 shares during the quarter. Oak Thistle LLC’s holdings in ONEOK were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in OKE. Quest Partners LLC acquired a new position in ONEOK in the second quarter worth about $28,000. Oppenheimer Asset Management Inc. raised its stake in ONEOK by 16.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 31,953 shares of the utilities provider’s stock valued at $2,606,000 after buying an additional 4,561 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in ONEOK by 33.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 816,697 shares of the utilities provider’s stock worth $66,602,000 after buying an additional 203,989 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of ONEOK by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after acquiring an additional 132,326 shares in the last quarter. Finally, One Capital Management LLC increased its holdings in shares of ONEOK by 109.5% in the 2nd quarter. One Capital Management LLC now owns 9,507 shares of the utilities provider’s stock valued at $775,000 after acquiring an additional 4,969 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on OKE. Scotiabank initiated coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective on the stock. 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 report on Wednesday, October 16th. Truist Financial boosted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. UBS Group raised their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Bank of America assumed coverage on ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $101.54.

ONEOK Stock Performance

Shares of OKE stock opened at $106.83 on Thursday. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07. 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 firm has a market capitalization of $62.41 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth ratio of 5.24 and a beta of 1.70. The business has a 50 day simple moving average of $105.95 and a 200 day simple moving average of $95.28.

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