19,886 Shares in ONEOK, Inc. (NYSE:OKE) Acquired by Empirical Asset Management LLC

Empirical Asset Management LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,886 shares of the utilities provider's stock, valued at approximately $1,997,000.

A number of other hedge funds also recently modified their holdings of the stock. Quest Partners LLC bought a new stake in shares of ONEOK during the second quarter worth $28,000. Matrix Trust Co acquired a new stake in ONEOK during the 3rd quarter worth approximately $29,000. Kieckhefer Group LLC acquired a new position in ONEOK in the 4th quarter valued at approximately $30,000. Access Investment Management LLC bought a new stake in shares of ONEOK in the 3rd quarter valued at about $37,000. Finally, Values First Advisors Inc. bought a new position in shares of ONEOK during the third quarter worth about $44,000. Institutional investors own 69.13% of the company's stock.

ONEOK Stock Performance

Shares of NYSE OKE traded up $0.42 during midday trading on Friday, reaching $109.08. The company's stock had a trading volume of 3,093,017 shares, compared to its average volume of 2,475,531. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a market capitalization of $63.72 billion, a P/E ratio of 22.82, a PEG ratio of 4.35 and a beta of 1.70. The firm has a 50 day moving average price of $106.17 and a 200-day moving average price of $95.65. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $5.81 billion. During the same period in the prior year, the company earned $0.99 earnings per share. As a group, equities analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current year.

Analysts Set New Price Targets

OKE has been the subject of several recent analyst reports. 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 note on Tuesday, December 3rd. Bank of America assumed coverage on ONEOK in a research report on Thursday, October 17th. They issued a "buy" rating and a $105.00 price objective for the company. Wells Fargo & Company lowered ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 target price on the stock. in a research report on Wednesday, December 18th. Mizuho raised shares of ONEOK to a "hold" rating in a research report on Thursday, November 7th. Finally, Barclays increased their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an "equal weight" rating in a research note on Monday, November 4th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and a consensus price target of $101.54.

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.