ONEOK, Inc. (NYSE:OKE) Holdings Trimmed by Cascade Investment Group Inc.

Cascade Investment Group Inc. lowered its holdings in ONEOK, Inc. (NYSE:OKE) by 3.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,092 shares of the utilities provider’s stock after selling 166 shares during the period. Cascade Investment Group Inc.’s holdings in ONEOK were worth $511,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. International Assets Investment Management LLC boosted its holdings in shares of ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of ONEOK by 3.9% during the 3rd 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 buying an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of ONEOK in the third quarter worth $47,957,000. Yaupon Capital Management LP acquired a new stake in ONEOK during the third quarter valued at $45,194,000. Finally, National Bank of Canada FI grew its stake in ONEOK by 199.9% in the third 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. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on OKE shares. Bank of America initiated coverage on ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. UBS Group upped their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Truist Financial upped their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada raised their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.92.

ONEOK Trading Up 0.4 %

ONEOK stock opened at $109.08 on Monday. The stock has a market cap of $63.72 billion, a P/E ratio of 22.82, a PEG ratio of 4.35 and a beta of 1.70. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07. The firm’s fifty day moving average price is $106.17 and its 200-day moving average price is $95.74. 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 (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter last year, the business posted $0.99 EPS. Equities research analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

About ONEOK

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.