Hickory Point Bank & Trust Makes New $219,000 Investment in ONEOK, Inc. (NYSE:OKE)

Hickory Point Bank & Trust acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,185 shares of the utilities provider’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds also recently bought and sold shares of OKE. Pinnacle Associates Ltd. boosted its stake in ONEOK by 37.7% during the third quarter. Pinnacle Associates Ltd. now owns 5,776 shares of the utilities provider’s stock worth $526,000 after buying an additional 1,582 shares during the period. HM Payson & Co. boosted its stake in shares of ONEOK by 6.3% during the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after purchasing an additional 105 shares during the period. US Bancorp DE boosted its stake in shares of ONEOK by 2.4% during the third quarter. US Bancorp DE now owns 86,296 shares of the utilities provider’s stock valued at $7,864,000 after purchasing an additional 2,012 shares during the period. Stephens Inc. AR boosted its stake in shares of ONEOK by 1.0% during the third quarter. Stephens Inc. AR now owns 41,028 shares of the utilities provider’s stock valued at $3,739,000 after purchasing an additional 403 shares during the period. Finally, Addis & Hill Inc boosted its stake in shares of ONEOK by 2.2% during the third quarter. Addis & Hill Inc now owns 7,561 shares of the utilities provider’s stock valued at $689,000 after purchasing an additional 164 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of ONEOK stock opened at $100.29 on Friday. The company has a market capitalization of $62.62 billion, a PE ratio of 20.98, a P/E/G ratio of 3.77 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. The company has a 50-day simple moving average of $100.91 and a two-hundred day simple moving average of $99.19. ONEOK, Inc. has a one year low of $74.39 and a one year high of $118.07.

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

ONEOK Increases Dividend

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

Analyst Ratings Changes

A number of analysts have recently issued reports on OKE shares. Truist Financial boosted their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Monday, February 10th. Wells Fargo & Company lowered their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday. Scotiabank assumed coverage on shares of ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price for the company. Finally, Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $104.15.

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.