Magnolia Capital Management Ltd. Sells 639 Shares of ONEOK, Inc. (NYSE:OKE)

Magnolia Capital Management Ltd. trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 13.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,982 shares of the utilities provider’s stock after selling 639 shares during the period. Magnolia Capital Management Ltd.’s holdings in ONEOK were worth $400,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of OKE. Quest Partners LLC bought a new stake in ONEOK during the second quarter worth about $28,000. Oppenheimer Asset Management Inc. lifted its position in ONEOK by 16.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 31,953 shares of the utilities provider’s stock worth $2,606,000 after buying an additional 4,561 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in ONEOK by 33.3% in the second quarter. Envestnet Asset Management Inc. now owns 816,697 shares of the utilities provider’s stock worth $66,602,000 after buying an additional 203,989 shares in the last quarter. Dimensional Fund Advisors LP grew its position in ONEOK by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock valued at $272,377,000 after acquiring an additional 132,326 shares during the last quarter. Finally, One Capital Management LLC raised its stake in shares of ONEOK by 109.5% during the second quarter. One Capital Management LLC now owns 9,507 shares of the utilities provider’s stock worth $775,000 after acquiring an additional 4,969 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

NYSE:OKE opened at $106.83 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a twelve month low of $67.05 and a twelve month high of $118.07. The stock has a market cap of $62.41 billion, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 4.35 and a beta of 1.70. The firm’s fifty day simple moving average is $105.95 and its 200 day simple moving average is $95.28.

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Bank of America started coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Truist Financial raised their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Finally, Scotiabank began coverage on ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $101.54.

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.