Transform Wealth LLC Increases Stock Position in ONEOK, Inc. (NYSE:OKE)

Transform Wealth LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 22.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 125,720 shares of the utilities provider's stock after purchasing an additional 23,435 shares during the period. Transform Wealth LLC's holdings in ONEOK were worth $12,622,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ieq Capital LLC boosted its holdings in ONEOK by 9.6% during the second quarter. Ieq Capital LLC now owns 24,843 shares of the utilities provider's stock worth $2,026,000 after purchasing an additional 2,167 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of ONEOK by 37.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 53,591 shares of the utilities provider's stock worth $4,370,000 after buying an additional 14,505 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of ONEOK by 2.7% in the second quarter. Pacer Advisors Inc. now owns 90,454 shares of the utilities provider's stock valued at $7,377,000 after acquiring an additional 2,373 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in shares of ONEOK by 22.9% in the second quarter. Summit Trail Advisors LLC now owns 7,003 shares of the utilities provider's stock valued at $571,000 after acquiring an additional 1,303 shares in the last quarter. Finally, Ensign Peak Advisors Inc lifted its holdings in ONEOK by 12.0% during the second quarter. Ensign Peak Advisors Inc now owns 342,612 shares of the utilities provider's stock worth $27,940,000 after acquiring an additional 36,820 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on OKE shares. US Capital Advisors upgraded ONEOK from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, November 26th. Bank of America began coverage on shares of ONEOK in a report on Thursday, October 17th. They set a "buy" rating and a $105.00 price objective for the company. Truist Financial boosted their target price 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. UBS Group raised their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Finally, Barclays lifted their price target on shares of ONEOK from $94.00 to $99.00 and gave the stock an "equal weight" rating in a report on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, ONEOK currently has an average rating of "Moderate Buy" and an average target price of $102.92.

ONEOK Stock Performance

Shares of NYSE:OKE traded up $0.51 during midday trading on Tuesday, reaching $109.47. 1,703,383 shares of the company traded hands, compared to its average volume of 2,696,356. The firm's fifty day moving average price is $106.17 and its two-hundred day moving average price is $96.02. The firm has a market capitalization of $63.95 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 4.66 and a beta of 1.70. 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 12 month low of $67.05 and a 12 month high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results 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). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the company earned $0.99 earnings per share. On average, equities analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current year.

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.