Weiss Asset Management LP Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Weiss Asset Management LP bought a new position in ONEOK, Inc. (NYSE:OKE - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 327,993 shares of the utilities provider's stock, valued at approximately $29,890,000. ONEOK comprises about 0.7% of Weiss Asset Management LP's investment portfolio, making the stock its 25th largest position. Weiss Asset Management LP owned approximately 0.06% of ONEOK as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Quest Partners LLC bought a new stake in ONEOK during the 2nd quarter valued at $28,000. Matrix Trust Co bought a new stake in shares of ONEOK during the third quarter valued at about $29,000. Ridgewood Investments LLC bought a new position in ONEOK in the 2nd quarter valued at about $31,000. Access Investment Management LLC acquired a new position in ONEOK during the 3rd quarter valued at about $37,000. Finally, Values First Advisors Inc. bought a new stake in shares of ONEOK during the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 69.13% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OKE. UBS Group upped their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Citigroup lifted their price target on ONEOK from $85.00 to $102.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. Royal Bank of Canada upped their price objective on ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a report on Wednesday, October 16th. Truist Financial raised their target price on ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research note on Tuesday. Finally, Mizuho raised ONEOK to a "hold" rating in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $101.00.

ONEOK Stock Down 1.0 %

Shares of OKE stock traded down $1.09 on Friday, reaching $109.03. 1,521,929 shares of the company's stock traded hands, compared to its average volume of 2,805,479. The company has a market capitalization of $63.69 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 5.59 and a beta of 1.69. ONEOK, Inc. has a 12-month low of $65.49 and a 12-month high of $118.07. 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 business's 50 day moving average price is $102.06 and its two-hundred day moving average price is $90.78.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) 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 analyst estimates of $5.81 billion. During the same period last year, the business earned $0.99 EPS. On average, equities analysts forecast that ONEOK, Inc. will post 5.08 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.63%. The ex-dividend date was Friday, November 1st. ONEOK's payout ratio is currently 82.85%.

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.