Diversify Advisory Services LLC Has $565,000 Position in ONEOK, Inc. (NYSE:OKE)

Diversify Advisory Services LLC boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 37.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,548 shares of the utilities provider’s stock after buying an additional 1,497 shares during the quarter. Diversify Advisory Services LLC’s holdings in ONEOK were worth $565,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OKE. National Pension Service increased its holdings in ONEOK by 1.6% in the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after purchasing an additional 12,349 shares during the last quarter. Leavell Investment Management Inc. raised its position in shares of ONEOK by 3.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after acquiring an additional 5,175 shares during the period. Caxton Associates LP bought a new position in ONEOK during the 2nd quarter worth approximately $1,225,000. Point72 Europe London LLP acquired a new position in ONEOK during the second quarter valued at approximately $15,008,000. Finally, Nations Financial Group Inc. IA ADV increased its stake in ONEOK by 11.1% in 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 purchasing an additional 5,451 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE OKE opened at $109.84 on Wednesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a 50 day moving average price of $106.17 and a 200 day moving average price of $96.02. The stock has a market capitalization of $64.17 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 4.66 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $67.05 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS 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 during the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the company posted $0.99 EPS. Analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OKE. Scotiabank started 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 for the company. Barclays raised their price target on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Truist Financial boosted 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. UBS Group raised their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Bank of America began coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average target price of $102.92.

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.