National Bank of Canada FI Raises Position in ONEOK, Inc. (NYSE:OKE)

National Bank of Canada FI grew its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 199.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 697,985 shares of the utilities provider's stock after buying an additional 465,243 shares during the period. National Bank of Canada FI owned 0.12% of ONEOK worth $63,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. QRG Capital Management Inc. lifted its stake in ONEOK by 2.2% in the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider's stock worth $454,000 after purchasing an additional 119 shares in the last quarter. Diversify Advisory Services LLC grew its holdings in ONEOK by 70.7% during the 2nd quarter. Diversify Advisory Services LLC now owns 4,470 shares of the utilities provider's stock valued at $368,000 after buying an additional 1,851 shares in the last quarter. Czech National Bank grew its holdings in ONEOK by 8.5% during the 2nd quarter. Czech National Bank now owns 111,219 shares of the utilities provider's stock valued at $9,070,000 after buying an additional 8,719 shares in the last quarter. RFG Advisory LLC raised its holdings in shares of ONEOK by 11.1% during the 2nd quarter. RFG Advisory LLC now owns 33,166 shares of the utilities provider's stock worth $2,705,000 after acquiring an additional 3,314 shares in the last quarter. Finally, Andrew Hill Investment Advisors Inc. boosted its position in shares of ONEOK by 2.7% during the 2nd quarter. Andrew Hill Investment Advisors Inc. now owns 53,057 shares of the utilities provider's stock valued at $4,327,000 after acquiring an additional 1,393 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Trading Down 1.0 %

OKE stock traded down $1.12 during trading on Friday, hitting $109.00. The company had a trading volume of 2,160,043 shares, compared to its average volume of 3,390,932. The firm has a market capitalization of $63.68 billion, a P/E ratio of 22.80, a PEG ratio of 5.48 and a beta of 1.69. 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 52-week low of $65.49 and a 52-week high of $118.07. The company has a 50 day simple moving average of $102.43 and a 200-day simple moving average of $91.09.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to analysts' expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period last year, the business posted $0.99 earnings per share. As a group, research analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Friday, November 1st. ONEOK's dividend payout ratio (DPR) is 82.85%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Bank of America began coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a "buy" rating and a $105.00 price target on the stock. Citigroup upped their target price on shares of ONEOK from $85.00 to $102.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. Truist Financial lifted their price target on ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a research report on Tuesday, December 3rd. Morgan Stanley upgraded ONEOK from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Finally, Wells Fargo & Company lifted their target price on ONEOK from $100.00 to $107.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $101.00.

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.