132,000 Shares in ONEOK, Inc. (NYSE:OKE) Bought by Sourcerock Group LLC

Sourcerock Group LLC acquired a new position in ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 132,000 shares of the utilities provider’s stock, valued at approximately $13,253,000. ONEOK comprises about 0.9% of Sourcerock Group LLC’s investment portfolio, making the stock its 22nd largest position.

A number of other institutional investors have also recently bought and sold shares of the business. Visionary Wealth Advisors grew its position in ONEOK by 2.1% during the fourth quarter. Visionary Wealth Advisors now owns 6,320 shares of the utilities provider’s stock valued at $635,000 after buying an additional 132 shares during the period. Westwood Holdings Group Inc. raised its position in ONEOK by 7.6% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,785,160 shares of the utilities provider’s stock worth $179,230,000 after acquiring an additional 126,813 shares during the period. Twinbeech Capital LP purchased a new position in ONEOK in the fourth quarter valued at about $558,000. Texas Bank & Trust Co bought a new position in shares of ONEOK during the 4th quarter valued at approximately $350,000. Finally, Tidal Investments LLC increased its stake in shares of ONEOK by 28.8% during the 4th quarter. Tidal Investments LLC now owns 35,968 shares of the utilities provider’s stock worth $3,611,000 after purchasing an additional 8,037 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the topic of several research analyst reports. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Scotiabank lowered their target price on ONEOK from $101.00 to $100.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, April 29th. Barclays dropped their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company decreased their price objective on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Finally, Stifel Nicolaus lowered their price objective on ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.00.

ONEOK Stock Down 0.3%

Shares of NYSE OKE opened at $85.74 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market cap of $53.55 billion, a P/E ratio of 17.94, a P/E/G ratio of 3.77 and a beta of 1.01. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The business has a 50-day simple moving average of $88.59 and a two-hundred day simple moving average of $97.71.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter last year, the business posted $1.09 earnings per share. Research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 4.81%. ONEOK’s payout ratio is currently 80.47%.

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.