South Street Advisors LLC Acquires 59,029 Shares of ONEOK, Inc. (NYSE:OKE)

South Street Advisors LLC lifted its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 460.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,849 shares of the utilities provider's stock after acquiring an additional 59,029 shares during the quarter. South Street Advisors LLC's holdings in ONEOK were worth $7,214,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Astoria Portfolio Advisors LLC. boosted its holdings in shares of ONEOK by 4.1% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider's stock worth $260,000 after buying an additional 96 shares during the last quarter. McAdam LLC boosted its holdings in shares of ONEOK by 3.8% in the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider's stock worth $262,000 after buying an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC boosted its holdings in shares of ONEOK by 0.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider's stock worth $1,262,000 after buying an additional 100 shares during the last quarter. Mutual Advisors LLC boosted its holdings in shares of ONEOK by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider's stock worth $965,000 after buying an additional 103 shares during the last quarter. Finally, Morton Capital Management LLC CA boosted its holdings in shares of ONEOK by 1.4% in the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider's stock worth $734,000 after buying an additional 104 shares during the last quarter. Institutional investors own 69.13% of the company's stock.

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ONEOK Price Performance

Shares of OKE stock traded down $1.20 during trading on Friday, hitting $99.45. The company had a trading volume of 9,379,327 shares, compared to its average volume of 2,858,007. 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 stock's 50-day moving average is $98.94 and its two-hundred day moving average is $99.80. The stock has a market capitalization of $62.09 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. The company had revenue of $7 billion for the quarter, compared to analysts' expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.14%. This is a boost from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK's dividend payout ratio is 79.69%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OKE. Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a report on Monday, February 10th. Citigroup initiated coverage on shares of ONEOK in a report on Friday, February 28th. They set a "buy" rating and a $110.00 price objective on the stock. Truist Financial upped their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a report on Tuesday, December 3rd. Scotiabank dropped their price objective on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 6th. Finally, Barclays dropped their price objective on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and a consensus price target of $103.31.

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.