4,444 Shares in ONEOK, Inc. (NYSE:OKE) Purchased by AXQ Capital LP

AXQ Capital LP acquired a new position in ONEOK, Inc. (NYSE:OKE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,444 shares of the utilities provider's stock, valued at approximately $446,000.

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

Analysts Set New Price Targets

A number of research firms have weighed in on OKE. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Barclays decreased their price objective on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a research note on Monday, February 10th. Morgan Stanley lifted their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Truist Financial increased their price objective on ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a research note on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $105.00.

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ONEOK Stock Performance

NYSE:OKE traded down $2.51 during trading hours on Thursday, hitting $98.76. 2,849,332 shares of the company were exchanged, compared to its average volume of 2,860,181. The company's 50 day moving average price is $98.72 and its 200-day moving average price is $100.08. The stock has a market capitalization of $61.66 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. 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 (NYSE:OKE - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to analysts' expectations of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. As a group, research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.17%. ONEOK's payout ratio is currently 79.69%.

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.