Hennessy Advisors Inc. Has $28.94 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Hennessy Advisors Inc. lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 6.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 288,245 shares of the utilities provider’s stock after selling 20,900 shares during the period. Hennessy Advisors Inc.’s holdings in ONEOK were worth $28,940,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OKE. National Pension Service grew its holdings in ONEOK by 1.6% during the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after buying an additional 12,349 shares in the last quarter. Leavell Investment Management Inc. boosted its holdings in ONEOK by 3.8% during the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after purchasing an additional 5,175 shares during the last quarter. Caxton Associates LP bought a new stake in ONEOK in the 2nd quarter worth about $1,225,000. Point72 Europe London LLP purchased a new stake in ONEOK in the 2nd quarter valued at about $15,008,000. Finally, Nations Financial Group Inc. IA ADV lifted its position in shares of ONEOK by 11.1% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after buying an additional 5,451 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Performance

NYSE:OKE opened at $108.59 on Friday. The business’s fifty day moving average is $106.04 and its 200 day moving average is $95.36. The firm has a market cap of $63.43 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 4.35 and a beta of 1.70. 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, Inc. has a 52-week low of $67.05 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter last year, the business posted $0.99 earnings per share. Research analysts predict that ONEOK, Inc. will post 5.1 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on OKE shares. UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Finally, Barclays boosted their target price on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $101.54.

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.