CoreFirst Bank & Trust Takes Position in ONEOK, Inc. (NYSE:OKE)

CoreFirst Bank & Trust acquired a new stake in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 4,564 shares of the utilities provider’s stock, valued at approximately $458,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OKE. Raymond James Financial Inc. acquired a new stake in ONEOK in the 4th quarter valued at about $182,694,000. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after buying an additional 934,007 shares in the last quarter. Vanguard Group Inc. grew its holdings in ONEOK by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock valued at $7,040,075,000 after buying an additional 558,789 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of ONEOK in the 3rd quarter worth $47,957,000. Finally, National Pension Service raised its holdings in shares of ONEOK by 65.3% during the 4th quarter. National Pension Service now owns 1,262,741 shares of the utilities provider’s stock worth $126,779,000 after acquiring an additional 498,908 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the subject of a number of analyst reports. 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 report on Tuesday, December 3rd. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Monday, February 10th. Citigroup began coverage on ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective on the stock. Scotiabank dropped their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Finally, Barclays decreased their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.31.

ONEOK Stock Performance

Shares of ONEOK stock opened at $102.34 on Tuesday. The business has a 50-day simple moving average of $98.91 and a 200-day simple moving average of $99.99. 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, Inc. has a one year low of $76.23 and a one year high of $118.07. The company has a market cap of $63.89 billion, a PE ratio of 21.41, a P/E/G ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. On average, equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 4.03%. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is 79.69%.

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.