Neo Ivy Capital Management Takes $726,000 Position in ONEOK, Inc. (NYSE:OKE)

Neo Ivy Capital Management acquired a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,956 shares of the utilities provider's stock, valued at approximately $726,000.

Several other hedge funds have also recently modified their holdings of OKE. International Assets Investment Management LLC grew its position in ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider's stock valued at $294,440,000 after buying an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of ONEOK by 3.9% during the 3rd 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 acquiring an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of ONEOK during the 3rd quarter worth approximately $47,957,000. Bahl & Gaynor Inc. raised its holdings in shares of ONEOK by 3,648.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider's stock worth $41,995,000 after purchasing an additional 501,216 shares during the period. Finally, Yaupon Capital Management LP purchased a new position in ONEOK in the third quarter valued at approximately $45,194,000. Institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

OKE stock traded up $0.14 during midday trading on Thursday, reaching $104.47. The company had a trading volume of 2,015,116 shares, compared to its average volume of 2,805,270. The firm has a 50-day moving average price of $103.17 and a 200-day moving average price of $91.52. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market capitalization of $61.03 billion, a P/E ratio of 21.83, a P/E/G ratio of 5.49 and a beta of 1.69. ONEOK, Inc. has a 1 year low of $65.49 and a 1 year high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its 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 company had revenue of $5.02 billion during the quarter, compared to analysts' expectations of $5.81 billion. During the same quarter last year, the firm posted $0.99 earnings per share. On average, research analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK's dividend payout ratio is currently 82.85%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on OKE shares. Citigroup raised their target price on ONEOK from $85.00 to $102.00 and gave the stock a "buy" rating in a research report on Tuesday, September 3rd. UBS Group upped their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a "buy" rating in a report on Friday, November 15th. Wells Fargo & Company upped their price objective on shares of ONEOK from $100.00 to $107.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Barclays lifted their target price 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 upped 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. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, ONEOK currently has an average rating of "Moderate Buy" and a consensus price target of $101.00.

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.