Yelin Lapidot Holdings Management Ltd. Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Yelin Lapidot Holdings Management Ltd. acquired a new position in ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,480 shares of the utilities provider’s stock, valued at approximately $249,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OKE. Kieckhefer Group LLC acquired a new position in ONEOK during the fourth quarter valued at $30,000. Access Investment Management LLC acquired a new position in shares of ONEOK in the 3rd quarter valued at about $37,000. Canton Hathaway LLC purchased a new stake in shares of ONEOK in the fourth quarter worth approximately $40,000. Versant Capital Management Inc boosted its holdings in shares of ONEOK by 98.1% during the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 260 shares during the period. Finally, FSA Wealth Management LLC purchased a new position in ONEOK during the third quarter valued at approximately $57,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

NYSE OKE opened at $96.62 on Friday. The company’s fifty day moving average is $100.91 and its two-hundred day moving average is $99.00. The firm has a market capitalization of $56.44 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 52-week low of $73.89 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.26%. The ex-dividend date was Monday, February 3rd. ONEOK’s payout ratio is 86.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Barclays initiated coverage on shares of ONEOK in a research note on Thursday, February 6th. They set an “equal weight” rating and a $105.00 target price for the company. Wells Fargo & Company reduced their target price 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. Truist Financial increased their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note 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. Finally, UBS Group increased their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and a consensus target price of $103.54.

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.