Burney Co. Increases Stock Position in ONEOK, Inc. (NYSE:OKE)

Burney Co. boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,615 shares of the utilities provider’s stock after buying an additional 173 shares during the quarter. Burney Co.’s holdings in ONEOK were worth $664,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Quest Partners LLC purchased a new position in shares of ONEOK in the 2nd quarter valued at $28,000. Matrix Trust Co purchased a new position in ONEOK in the third quarter valued at about $29,000. Kieckhefer Group LLC bought a new position in ONEOK in the fourth quarter worth about $30,000. Access Investment Management LLC purchased a new stake in shares of ONEOK during the third quarter valued at about $37,000. Finally, Values First Advisors Inc. bought a new stake in shares of ONEOK in the 3rd quarter valued at about $44,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

OKE has been the subject of a number of analyst reports. Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research report on Wednesday, December 18th. Truist Financial upped their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada raised their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Finally, Bank of America assumed coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $101.54.

ONEOK Price Performance

Shares of OKE opened at $109.08 on Friday. The company has a market capitalization of $63.72 billion, a P/E ratio of 22.82, a P/E/G ratio of 4.35 and a beta of 1.70. The business’s 50-day moving average is $106.13 and its two-hundred day moving average is $95.46. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE) 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 analysts’ expectations of $5.81 billion. During the same quarter in the prior year, the business posted $0.99 earnings per share. Research analysts predict 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.