Coldstream Capital Management Inc. Has $3.75 Million Stake in ONEOK, Inc. (NYSE:OKE)

Coldstream Capital Management Inc. raised its position in ONEOK, Inc. (NYSE:OKE) by 24.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,947 shares of the utilities provider’s stock after acquiring an additional 7,814 shares during the quarter. Coldstream Capital Management Inc.’s holdings in ONEOK were worth $3,752,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Matrix Trust Co acquired a new stake in ONEOK in the third quarter valued at $29,000. Quest Partners LLC acquired a new stake in ONEOK in the second quarter valued at $28,000. Ridgewood Investments LLC acquired a new stake in ONEOK in the second quarter valued at $31,000. Access Investment Management LLC acquired a new stake in ONEOK in the third quarter valued at $37,000. Finally, Values First Advisors Inc. acquired a new stake in ONEOK in the third quarter valued at $44,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

NYSE:OKE opened at $104.34 on Wednesday. ONEOK, Inc. has a 52 week low of $65.49 and a 52 week high of $118.07. The firm has a market cap of $60.95 billion, a price-to-earnings ratio of 21.83, a P/E/G ratio of 5.49 and a beta of 1.69. The firm’s 50-day simple moving average is $102.71 and its 200 day simple moving average is $91.26. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 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 the consensus estimate of $5.81 billion. During the same period in the prior year, the business posted $0.99 earnings per share. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.80%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

Wall Street Analyst Weigh In

OKE has been the subject of a number of recent analyst reports. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. 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 research note on Friday, November 15th. Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Truist Financial raised their target price 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. Finally, Wells Fargo & Company raised their target price on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.00.

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.