Sonora Investment Management Group LLC Raises Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Sonora Investment Management Group LLC raised its position in ONEOK, Inc. (NYSE:OKE) by 25.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,063 shares of the utilities provider’s stock after purchasing an additional 2,633 shares during the period. Sonora Investment Management Group LLC’s holdings in ONEOK were worth $1,312,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Matrix Trust Co purchased a new position in ONEOK during the third quarter worth approximately $29,000. Kieckhefer Group LLC purchased a new position in shares of ONEOK in the 4th quarter worth $30,000. Access Investment Management LLC acquired a new position in ONEOK in the third quarter valued at $37,000. Values First Advisors Inc. purchased a new stake in ONEOK during the third quarter valued at about $44,000. Finally, Fortitude Family Office LLC increased its stake in ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 135 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of NYSE OKE opened at $99.91 on Friday. 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 firm has a 50-day moving average of $105.25 and a two-hundred day moving average of $96.95. The company has a market capitalization of $58.37 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 3.81 and a beta of 1.70.

ONEOK (NYSE:OKE) last issued its 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 company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. As a group, analysts expect that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal 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 given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 86.19%.

Analysts Set New Price Targets

Several research firms have issued reports on OKE. Truist Financial increased their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada increased their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a research report on Wednesday, December 18th. Finally, UBS Group raised their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.

ONEOK Company 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.