Cambridge Financial Group Inc. Purchases New Shares in ONEOK, Inc. (NYSE:OKE)

Cambridge Financial Group Inc. acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 93,687 shares of the utilities provider’s stock, valued at approximately $9,406,000. ONEOK makes up about 3.9% of Cambridge Financial Group Inc.’s portfolio, making the stock its 3rd biggest position.

Several other institutional investors have also recently made changes to their positions in OKE. Astoria Portfolio Advisors LLC. grew its holdings in ONEOK by 4.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after purchasing an additional 96 shares during the period. McAdam LLC increased its position in shares of ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC increased its stake in shares of ONEOK by 0.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after purchasing an additional 100 shares in the last quarter. Mutual Advisors LLC lifted its position in ONEOK by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after purchasing an additional 103 shares in the last quarter. Finally, Morton Capital Management LLC CA increased its position in ONEOK by 1.4% in the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after buying an additional 104 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 0.2 %

Shares of OKE stock opened at $98.47 on Friday. The company’s 50-day moving average price is $98.32 and its 200-day moving average price is $100.11. 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 stock has a market cap of $61.48 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.18%. ONEOK’s dividend payout ratio is 79.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on OKE shares. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company decreased their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Truist Financial upped their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Barclays decreased 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. Finally, Citigroup assumed coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

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.