Fox Run Management L.L.C. Takes Position in ONEOK, Inc. (NYSE:OKE)

Fox Run Management L.L.C. acquired a new position in ONEOK, Inc. (NYSE:OKE) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 6,832 shares of the utilities provider’s stock, valued at approximately $686,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Kieckhefer Group LLC purchased a new position in ONEOK in the 4th quarter worth approximately $30,000. Canton Hathaway LLC purchased a new position in ONEOK in the fourth quarter worth $40,000. J.Safra Asset Management Corp purchased a new position in ONEOK in the fourth quarter worth $48,000. VSM Wealth Advisory LLC purchased a new stake in ONEOK during the fourth quarter valued at about $50,000. Finally, OFI Invest Asset Management bought a new stake in ONEOK during the fourth quarter worth about $51,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OKE has been the topic of several recent research reports. Truist Financial increased their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company cut their price objective 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, February 26th. Scotiabank decreased their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Finally, Barclays cut their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Seven investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.31.

ONEOK Price Performance

Shares of OKE stock opened at $102.34 on Tuesday. 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 fifty-two week low of $76.23 and a fifty-two week high of $118.07. The firm has a market cap of $63.89 billion, a P/E ratio of 21.41, a P/E/G ratio of 3.77 and a beta of 1.70. The business’s 50 day moving average price is $98.91 and its 200-day moving average price is $99.99.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $6.18 billion. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.03%. ONEOK’s dividend payout ratio (DPR) is 79.69%.

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.