Fox Run Management L.L.C. Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Fox Run Management L.L.C. acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,832 shares of the utilities provider’s stock, valued at approximately $686,000.

A number of other institutional investors also recently modified their holdings of the company. Kieckhefer Group LLC purchased a new stake in shares of ONEOK in the fourth quarter worth approximately $30,000. Canton Hathaway LLC purchased a new stake in shares of ONEOK in the fourth quarter valued at about $40,000. J.Safra Asset Management Corp bought a new position in shares of ONEOK during the fourth quarter valued at about $48,000. VSM Wealth Advisory LLC purchased a new position in ONEOK during the fourth quarter worth about $50,000. Finally, OFI Invest Asset Management bought a new stake in ONEOK in the 4th quarter worth about $51,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Truist Financial lifted their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Barclays cut their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Citigroup initiated coverage on ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company. Scotiabank cut their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Finally, Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.31.

ONEOK Price Performance

ONEOK stock opened at $102.34 on Tuesday. 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 one year low of $76.23 and a one year high of $118.07. The firm has a market capitalization of $63.89 billion, a P/E ratio of 21.41, a PEG ratio of 3.77 and a beta of 1.70. The business has a fifty day moving average price of $98.91 and a 200-day moving average price of $99.99.

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

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders 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%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

ONEOK 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.