New Century Financial Group LLC Acquires 113 Shares of ONEOK, Inc. (NYSE:OKE)

New Century Financial Group LLC lifted its stake in ONEOK, Inc. (NYSE:OKE) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,142 shares of the utilities provider’s stock after acquiring an additional 113 shares during the period. New Century Financial Group LLC’s holdings in ONEOK were worth $323,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in OKE. International Assets Investment Management LLC grew its holdings in ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after buying an additional 3,197,121 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after acquiring an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in ONEOK during the 3rd quarter worth approximately $47,957,000. Yaupon Capital Management LP bought a new position in ONEOK in the 3rd quarter valued at $45,194,000. Finally, National Bank of Canada FI grew its position in shares of ONEOK by 199.9% during the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock valued at $63,605,000 after purchasing an additional 465,243 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on OKE shares. Truist Financial lifted 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. Barclays upped their price objective on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Scotiabank started coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target on the stock. Finally, US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.

ONEOK Stock Down 0.5 %

OKE opened at $104.42 on Friday. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07. 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 business’s 50-day moving average price is $106.11 and its 200-day moving average price is $96.34. The company has a market cap of $61.00 billion, a P/E ratio of 21.84, a P/E/G 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 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period last year, the firm earned $0.99 earnings per share. On average, equities analysts expect that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Increases Dividend

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

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.