ONEOK, Inc. (NYSE:OKE) Shares Purchased by Norden Group LLC

Norden Group LLC raised its stake in ONEOK, Inc. (NYSE:OKE) by 4,460.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 134,388 shares of the utilities provider’s stock after acquiring an additional 131,441 shares during the quarter. Norden Group LLC’s holdings in ONEOK were worth $10,773,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Tradewinds Capital Management LLC raised its stake in ONEOK by 268.3% in the 1st quarter. Tradewinds Capital Management LLC now owns 8,330 shares of the utilities provider’s stock valued at $668,000 after purchasing an additional 6,068 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of ONEOK by 464.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 198,018 shares of the utilities provider’s stock valued at $15,875,000 after buying an additional 162,963 shares during the period. AlphaMark Advisors LLC boosted its position in ONEOK by 22.1% during the first quarter. AlphaMark Advisors LLC now owns 7,102 shares of the utilities provider’s stock worth $569,000 after acquiring an additional 1,285 shares during the last quarter. Oak Thistle LLC purchased a new stake in ONEOK in the 1st quarter worth approximately $398,000. Finally, Hexagon Capital Partners LLC grew its stake in ONEOK by 49.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 5,095 shares of the utilities provider’s stock worth $409,000 after acquiring an additional 1,690 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on OKE shares. Mizuho raised their price objective on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. US Capital Advisors cut ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Truist Financial increased their price objective on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Morgan Stanley boosted their target price on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Monday, June 10th. Finally, StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $84.50.

ONEOK Stock Up 0.6 %

Shares of NYSE:OKE opened at $82.82 on Thursday. The company has a 50 day moving average of $80.23 and a two-hundred day moving average of $76.07. ONEOK, Inc. has a 52-week low of $60.52 and a 52-week high of $83.31. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $48.34 billion, a price-to-earnings ratio of 19.26, a price-to-earnings-growth ratio of 4.41 and a beta of 1.65.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same quarter in the previous year, the firm posted $2.34 EPS. As a group, analysts forecast that ONEOK, Inc. will post 4.95 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is 92.09%.

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.