Brookstone Capital Management Has $3.79 Million Stake in ONEOK, Inc. (NYSE:OKE)

Brookstone Capital Management lifted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 94.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,758 shares of the utilities provider's stock after acquiring an additional 18,300 shares during the period. Brookstone Capital Management's holdings in ONEOK were worth $3,791,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Quest Partners LLC acquired a new stake in ONEOK during the second quarter worth about $28,000. Matrix Trust Co acquired a new stake in ONEOK during the third quarter worth about $29,000. Access Investment Management LLC acquired a new stake in ONEOK during the third quarter worth about $37,000. Values First Advisors Inc. acquired a new stake in ONEOK during the third quarter worth about $44,000. Finally, Fortitude Family Office LLC grew its stake in ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider's stock worth $45,000 after buying an additional 135 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OKE. Truist Financial raised their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research note on Tuesday, December 3rd. Royal Bank of Canada raised their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 16th. Barclays raised their price target on shares of ONEOK from $94.00 to $99.00 and gave the company an "equal weight" rating in a research note on Monday, November 4th. Scotiabank assumed coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a "sector outperform" rating and a $109.00 price target on the stock. Finally, Wells Fargo & Company lowered shares of ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 price objective for the company. in a report on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $101.54.

ONEOK Trading Up 0.7 %

ONEOK stock traded up $0.79 during mid-day trading on Wednesday, hitting $106.83. 2,771,195 shares of the stock were exchanged, compared to its average volume of 2,743,277. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07. The firm's fifty day simple moving average is $105.95 and its two-hundred day simple moving average is $95.28. The stock has a market capitalization of $62.41 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 5.24 and a beta of 1.70.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the previous year, the business posted $0.99 EPS. Analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current year.

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.