Everence Capital Management Inc. Grows Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Everence Capital Management Inc. grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,090 shares of the utilities provider’s stock after purchasing an additional 890 shares during the quarter. Everence Capital Management Inc.’s holdings in ONEOK were worth $2,218,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. GAMMA Investing LLC lifted its position in ONEOK by 26.5% during the fourth quarter. GAMMA Investing LLC now owns 12,265 shares of the utilities provider’s stock worth $1,231,000 after buying an additional 2,573 shares during the period. Versant Capital Management Inc lifted its holdings in shares of ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 260 shares during the period. BancFirst Trust & Investment Management boosted its position in shares of ONEOK by 2.5% in the fourth quarter. BancFirst Trust & Investment Management now owns 25,631 shares of the utilities provider’s stock worth $2,583,000 after acquiring an additional 614 shares during the last quarter. Principal Financial Group Inc. increased its position in ONEOK by 3.5% during the third quarter. Principal Financial Group Inc. now owns 710,314 shares of the utilities provider’s stock worth $64,731,000 after purchasing an additional 24,193 shares during the last quarter. Finally, Alternative Investment Advisors LLC. raised its stake in ONEOK by 1.1% during the third quarter. Alternative Investment Advisors LLC. now owns 12,096 shares of the utilities provider’s stock worth $1,102,000 after purchasing an additional 136 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

ONEOK stock opened at $102.90 on Friday. ONEOK, Inc. has a 52 week low of $67.05 and a 52 week high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a market cap of $60.11 billion, a P/E ratio of 21.53, a price-to-earnings-growth ratio of 5.24 and a beta of 1.69. The stock has a 50 day moving average of $104.86 and a 200-day moving average of $93.83.

ONEOK (NYSE:OKE) last posted its quarterly earnings data 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 the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter last year, the company earned $0.99 earnings per share. On average, analysts expect that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s payout ratio is currently 82.85%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OKE. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. UBS Group upped 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. Truist Financial lifted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Bank of America assumed coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Finally, Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research report on Wednesday, December 18th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.