HB Wealth Management LLC Grows Position in ONEOK, Inc. (NYSE:OKE)

HB Wealth Management LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,871 shares of the utilities provider’s stock after buying an additional 1,569 shares during the period. HB Wealth Management LLC’s holdings in ONEOK were worth $3,099,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. National Pension Service increased its position in shares of ONEOK by 1.6% during the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after buying an additional 12,349 shares during the period. Leavell Investment Management Inc. increased its position in shares of ONEOK by 3.8% during the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after buying an additional 5,175 shares during the period. Caxton Associates LP bought a new stake in shares of ONEOK during the second quarter valued at about $1,225,000. Point72 Europe London LLP bought a new stake in shares of ONEOK during the second quarter valued at about $15,008,000. Finally, Nations Financial Group Inc. IA ADV increased its position 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 valued at $4,972,000 after buying an additional 5,451 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OKE has been the topic of several research analyst reports. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Scotiabank initiated coverage on shares of ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective on the stock. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a research report on Wednesday, December 18th. Royal Bank of Canada upped their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Finally, 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. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.92.

ONEOK Stock Up 0.4 %

Shares of NYSE OKE opened at $109.08 on Monday. ONEOK, Inc. has a one year low of $67.05 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm’s 50 day simple moving average is $106.17 and its two-hundred day simple moving average is $95.74. The stock has a market capitalization of $63.72 billion, a P/E ratio of 22.82, a PEG ratio of 4.35 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period last year, the company posted $0.99 EPS. As a group, analysts expect that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

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.