LVM Capital Management Ltd. MI Buys Shares of 6,765 ONEOK, Inc. (NYSE:OKE)

LVM Capital Management Ltd. MI bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,765 shares of the utilities provider’s stock, valued at approximately $679,000.

Other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in ONEOK in the second quarter worth about $1,768,000. Ballentine Partners LLC increased its stake in shares of ONEOK by 3.9% in the second quarter. Ballentine Partners LLC now owns 4,387 shares of the utilities provider’s stock worth $358,000 after purchasing an additional 163 shares in the last quarter. Quest Partners LLC bought a new stake in shares of ONEOK during the 2nd quarter valued at $28,000. Ashton Thomas Private Wealth LLC bought a new position in ONEOK in the 2nd quarter worth $117,000. Finally, Choreo LLC boosted its stake in shares of ONEOK by 135.3% in the second quarter. Choreo LLC now owns 16,122 shares of the utilities provider’s stock worth $1,317,000 after acquiring an additional 9,271 shares during the period. 69.13% of the stock is currently owned by institutional investors.

ONEOK Trading Down 1.4 %

Shares of OKE traded down $1.39 during midday trading on Friday, hitting $101.46. The stock had a trading volume of 1,279,750 shares, compared to its average volume of 2,339,034. The stock’s 50 day moving average is $105.46 and its 200 day moving average is $94.61. The firm has a market cap of $59.27 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 5.24 and a beta of 1.70. 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, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings data 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 firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the previous year, the business earned $0.99 EPS. As a group, analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.90%. ONEOK’s payout ratio is 82.85%.

Wall Street Analyst Weigh In

A number of research firms recently commented on OKE. Truist Financial boosted their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. UBS Group upped their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a research note on Wednesday, December 18th. Scotiabank began coverage on shares of ONEOK in a report on Friday. They set a “sector outperform” rating and a $109.00 price objective for the company. Finally, Bank of America started coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. 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 has an average rating of “Moderate Buy” and a consensus target price of $101.54.

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.