Park Avenue Securities LLC Purchases 709 Shares of ONEOK, Inc. (NYSE:OKE)

Park Avenue Securities LLC lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 10.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,602 shares of the utilities provider’s stock after purchasing an additional 709 shares during the quarter. Park Avenue Securities LLC’s holdings in ONEOK were worth $763,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after purchasing an additional 661,854 shares during the last quarter. Geode Capital Management LLC grew its stake in ONEOK by 1.0% in the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after acquiring an additional 138,430 shares during the period. Janus Henderson Group PLC boosted its position in shares of ONEOK by 0.3% during the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after buying an additional 11,189 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after buying an additional 3,197,121 shares during the last quarter. Finally, abrdn plc lifted its holdings in ONEOK by 14.8% during the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock worth $195,545,000 after acquiring an additional 277,514 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Up 0.8 %

OKE opened at $109.84 on Wednesday. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07. The stock has a 50-day moving average of $106.17 and a 200 day moving average of $96.02. The firm has a market cap of $64.17 billion, a P/E ratio of 22.98, a P/E/G ratio of 4.66 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last posted 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). 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 period in the prior year, the firm posted $0.99 EPS. As a group, research analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on OKE. 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 assumed coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Truist Financial upped their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. UBS Group boosted their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a research report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $102.92.

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.