Passumpsic Savings Bank Invests $816,000 in ONEOK, Inc. (NYSE:OKE)

Passumpsic Savings Bank purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,127 shares of the utilities provider's stock, valued at approximately $816,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kieckhefer Group LLC purchased a new stake in ONEOK during the fourth quarter valued at about $30,000. Access Investment Management LLC bought a new stake in shares of ONEOK in the third quarter valued at approximately $37,000. Values First Advisors Inc. bought a new position in ONEOK in the 3rd quarter worth approximately $44,000. Fortitude Family Office LLC grew its stake in ONEOK by 37.4% in the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider's stock valued at $45,000 after buying an additional 135 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider's stock valued at $53,000 after acquiring an additional 260 shares during the period. 69.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OKE has been the subject of several recent research reports. Truist Financial lifted their price target on ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research report on Tuesday, December 3rd. Barclays started coverage on ONEOK in a research report on Thursday, February 6th. They set an "equal weight" rating and a $105.00 target price for the company. Scotiabank assumed 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 on the stock. UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company cut their price objective on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $103.54.

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ONEOK Trading Down 0.1 %

OKE traded down $0.08 during midday trading on Wednesday, reaching $95.69. 3,242,282 shares of the company's stock traded hands, compared to its average volume of 4,003,790. The stock has a market capitalization of $55.90 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $73.39 and a 52 week high of $118.07. The firm has a fifty day moving average of $100.97 and a two-hundred day moving average of $99.04. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

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

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date was Monday, February 3rd. This is a boost from ONEOK's previous quarterly dividend of $0.99. ONEOK's payout ratio is 86.19%.

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.