CGN Advisors LLC Makes New Investment in ONEOK, Inc. (NYSE:OKE)

CGN Advisors LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,651 shares of the utilities provider's stock, valued at approximately $266,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in OKE. National Pension Service raised its stake in ONEOK by 1.6% during the third quarter. National Pension Service now owns 763,833 shares of the utilities provider's stock worth $69,608,000 after purchasing an additional 12,349 shares during the period. Leavell Investment Management Inc. increased its holdings in shares of ONEOK by 3.8% during the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider's stock worth $12,871,000 after buying an additional 5,175 shares during the last quarter. Caxton Associates LP purchased a new stake in shares of ONEOK during the 2nd quarter valued at approximately $1,225,000. Point72 Europe London LLP acquired a new position in ONEOK in the second quarter valued at approximately $15,008,000. Finally, Nations Financial Group Inc. IA ADV grew its position in ONEOK by 11.1% in the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider's stock worth $4,972,000 after acquiring an additional 5,451 shares during the period. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Up 0.4 %

NYSE OKE traded up $0.42 during trading hours on Friday, hitting $109.08. 3,093,017 shares of the company were exchanged, compared to its average volume of 2,475,531. The company has a 50 day moving average of $106.17 and a two-hundred day moving average of $95.74. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm has a market cap of $63.72 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 4.35 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $67.05 and a 52-week 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 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 analysts' expectations of $5.81 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. Equities research analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on OKE shares. Truist Financial lifted their target price on ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research report on Tuesday, December 3rd. Barclays boosted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an "equal weight" rating in a report on Monday, November 4th. Bank of America began coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a "buy" rating and a $105.00 target price for the company. Scotiabank initiated 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, Royal Bank of Canada increased their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, ONEOK has a consensus rating of "Moderate Buy" and a consensus target price of $101.54.

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.