SouthState Corp Has $102,000 Stock Holdings in ONEOK, Inc. (NYSE:OKE)

SouthState Corp grew its holdings in ONEOK, Inc. (NYSE:OKE) by 15.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,019 shares of the utilities provider’s stock after purchasing an additional 136 shares during the period. SouthState Corp’s holdings in ONEOK were worth $102,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of OKE. Kieckhefer Group LLC bought a new position in ONEOK in the fourth quarter valued at about $30,000. Canton Hathaway LLC bought a new stake in shares of ONEOK during the 4th quarter valued at approximately $40,000. J.Safra Asset Management Corp acquired a new position in ONEOK during the 4th quarter worth approximately $48,000. OFI Invest Asset Management bought a new position in ONEOK in the 4th quarter valued at approximately $51,000. Finally, Versant Capital Management Inc boosted its position in ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after buying an additional 260 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the subject of several research analyst reports. Barclays lowered their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Scotiabank dropped their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company lowered their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Finally, Truist Financial lifted their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.31.

ONEOK Stock Performance

Shares of ONEOK stock opened at $98.41 on Tuesday. The business has a 50-day moving average price of $99.15 and a two-hundred day moving average price of $99.70. ONEOK, Inc. has a 1-year low of $76.23 and a 1-year 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 company has a market cap of $61.44 billion, a P/E ratio of 20.59, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last issued its earnings results 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. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. As a group, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date of this dividend 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 4.19%. ONEOK’s dividend payout ratio is currently 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.