NEOS Investment Management LLC Buys 8,609 Shares of ONEOK, Inc. (NYSE:OKE)

NEOS Investment Management LLC boosted its stake in ONEOK, Inc. (NYSE:OKE) by 31.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,995 shares of the utilities provider’s stock after purchasing an additional 8,609 shares during the quarter. NEOS Investment Management LLC’s holdings in ONEOK were worth $3,614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Kieckhefer Group LLC bought a new stake in ONEOK during the 4th quarter worth approximately $30,000. Canton Hathaway LLC purchased a new stake in shares of ONEOK in the fourth quarter worth $40,000. J.Safra Asset Management Corp bought a new stake in ONEOK during the fourth quarter valued at $48,000. VSM Wealth Advisory LLC purchased a new position in ONEOK during the fourth quarter worth about $50,000. Finally, OFI Invest Asset Management bought a new position in ONEOK in the 4th quarter worth about $51,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $98.76 on Friday. The company has a market capitalization of $61.66 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth 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. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The company’s 50-day moving average is $98.53 and its 200 day moving average is $100.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share 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 company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. Sell-side analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.17%. ONEOK’s dividend payout ratio (DPR) is 79.69%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Morgan Stanley boosted their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday. Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Scotiabank cut their target price 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. Finally, Barclays reduced their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $105.00.

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.