Anderson Hoagland & Co. Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Anderson Hoagland & Co. acquired a new stake in ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,985 shares of the utilities provider’s stock, valued at approximately $216,000.

Other large investors have also made changes to their positions in the company. National Pension Service increased its holdings in ONEOK by 1.6% in the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after acquiring an additional 12,349 shares in the last quarter. Leavell Investment Management Inc. grew its position in shares of ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after purchasing an additional 5,175 shares during the period. Nations Financial Group Inc. IA ADV increased its stake in shares of ONEOK by 11.1% during the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after purchasing an additional 5,451 shares in the last quarter. Sageworth Trust Co purchased a new stake in shares of ONEOK during the third quarter worth about $568,000. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of ONEOK by 222.3% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 16,181 shares of the utilities provider’s stock worth $1,475,000 after purchasing an additional 11,160 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Price Performance

ONEOK stock opened at $104.42 on Friday. 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 company has a 50-day moving average price of $106.00 and a 200 day moving average price of $96.50. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07. The stock has a market cap of $61.00 billion, a P/E ratio of 21.84, a PEG ratio of 4.03 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its quarterly 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). The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the prior year, the business earned $0.99 EPS. Sell-side analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a $1.03 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK’s payout ratio is 82.85%.

Wall Street Analyst Weigh In

OKE has been the subject of several research reports. UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Scotiabank began coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target for the company. Truist Financial increased their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada lifted 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. Finally, Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.92.

About ONEOK

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.