ONEOK, Inc. (NYSE:OKE) Shares Purchased by Horizon Investments LLC

Horizon Investments LLC raised its position in ONEOK, Inc. (NYSE:OKE) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,486 shares of the utilities provider’s stock after buying an additional 150 shares during the period. Horizon Investments LLC’s holdings in ONEOK were worth $942,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Kieckhefer Group LLC purchased a new stake in shares of ONEOK during the fourth quarter worth approximately $30,000. Canton Hathaway LLC purchased a new stake in shares of ONEOK during the fourth quarter worth $40,000. J.Safra Asset Management Corp acquired a new stake in shares of ONEOK in the fourth quarter valued at about $48,000. OFI Invest Asset Management purchased a new position in shares of ONEOK in the fourth quarter worth about $51,000. Finally, Versant Capital Management Inc boosted its position in ONEOK by 98.1% during the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 260 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Up 2.2 %

NYSE:OKE opened at $100.12 on Thursday. ONEOK, Inc. has a 52 week low of $76.23 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 stock’s fifty day moving average is $99.03 and its two-hundred day moving average is $99.75. The stock has a market capitalization of $62.51 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.11%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. 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. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Citigroup initiated coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 target price for the company. Wells Fargo & Company lowered their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, Scotiabank cut their price objective on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $103.31.

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.