Transform Wealth LLC Raises Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Transform Wealth LLC raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 22.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 125,720 shares of the utilities provider’s stock after purchasing an additional 23,435 shares during the quarter. Transform Wealth LLC’s holdings in ONEOK were worth $12,622,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Ieq Capital LLC raised its holdings in shares of ONEOK by 9.6% during the second quarter. Ieq Capital LLC now owns 24,843 shares of the utilities provider’s stock worth $2,026,000 after purchasing an additional 2,167 shares during the last quarter. Canada Pension Plan Investment Board grew its position in ONEOK by 37.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 53,591 shares of the utilities provider’s stock worth $4,370,000 after purchasing an additional 14,505 shares during the period. Pacer Advisors Inc. raised its stake in shares of ONEOK by 2.7% during the 2nd quarter. Pacer Advisors Inc. now owns 90,454 shares of the utilities provider’s stock valued at $7,377,000 after buying an additional 2,373 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of ONEOK by 22.9% in the 2nd quarter. Summit Trail Advisors LLC now owns 7,003 shares of the utilities provider’s stock valued at $571,000 after buying an additional 1,303 shares during the period. Finally, Ensign Peak Advisors Inc grew its holdings in ONEOK by 12.0% during the second quarter. Ensign Peak Advisors Inc now owns 342,612 shares of the utilities provider’s stock worth $27,940,000 after acquiring an additional 36,820 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Up 0.4 %

Shares of OKE opened at $109.08 on Tuesday. The stock has a market cap of $63.72 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 4.66 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $67.05 and a 52-week high of $118.07. The firm’s fifty day moving average is $106.17 and its two-hundred day moving average is $96.02. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share 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 during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the business earned $0.99 earnings per share. Research analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Barclays lifted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Royal Bank of Canada increased their target price on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Truist Financial increased their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.