Hennessy Advisors Inc. Decreases Position in ONEOK, Inc. (NYSE:OKE)

Hennessy Advisors Inc. cut its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 6.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 288,245 shares of the utilities provider's stock after selling 20,900 shares during the quarter. Hennessy Advisors Inc.'s holdings in ONEOK were worth $28,940,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its position in shares of ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider's stock worth $294,440,000 after buying an additional 3,197,121 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider's stock valued at $1,593,023,000 after purchasing an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of ONEOK in the third quarter valued at approximately $47,957,000. Yaupon Capital Management LP purchased a new position in shares of ONEOK during the 3rd quarter worth approximately $45,194,000. Finally, National Bank of Canada FI raised its position in shares of ONEOK by 199.9% during the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider's stock worth $63,605,000 after purchasing an additional 465,243 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on OKE shares. Mizuho upgraded ONEOK to a "hold" rating in a report on Thursday, November 7th. Bank of America began coverage on ONEOK in a research note on Thursday, October 17th. They set a "buy" rating and a $105.00 price objective on the stock. Scotiabank started coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a "sector outperform" rating and a $109.00 target price for the company. Barclays raised their price target 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. Finally, Truist Financial boosted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research report on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, ONEOK has an average rating of "Moderate Buy" and a consensus price target of $101.54.

ONEOK Trading Up 0.4 %

ONEOK stock traded up $0.42 during midday trading on Friday, reaching $109.08. The stock had a trading volume of 3,093,017 shares, compared to its average volume of 2,475,531. The stock's 50-day simple moving average is $106.17 and its 200 day simple moving average is $95.65. ONEOK, Inc. has a twelve month low of $67.05 and a twelve 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 stock has a market capitalization of $63.72 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 4.35 and a beta of 1.70.

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

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.