Morse Asset Management Inc Buys New Holdings in ONEOK, Inc. (NYSE:OKE)

Morse Asset Management Inc bought a new stake in ONEOK, Inc. (NYSE:OKE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,800 shares of the utilities provider’s stock, valued at approximately $346,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in ONEOK by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in shares of ONEOK by 3.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after buying an additional 232,043 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of ONEOK by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after buying an additional 11,189 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of ONEOK by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after buying an additional 132,326 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after buying an additional 3,197,121 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OKE has been the topic of a number of research analyst reports. Truist Financial boosted their target price on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. UBS Group boosted their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada upped their price objective on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Finally, Scotiabank upped their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.00.

ONEOK Trading Down 1.6 %

NYSE:OKE opened at $108.74 on Thursday. The company has a market cap of $63.52 billion, a P/E ratio of 22.75, a P/E/G ratio of 5.59 and a beta of 1.69. The stock’s fifty day moving average price is $101.64 and its two-hundred day moving average price is $90.65. ONEOK, Inc. has a 1 year low of $65.49 and a 1 year high of $118.07. 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 (NYSE:OKE) last posted its earnings results 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). The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the prior year, the company earned $0.99 EPS. As a group, analysts expect that ONEOK, Inc. will post 5.08 EPS for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.64%. ONEOK’s payout ratio is currently 82.85%.

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.