Monarch Capital Management Inc. Lowers Holdings in ONEOK, Inc. (NYSE:OKE)

Monarch Capital Management Inc. decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,141 shares of the utilities provider’s stock after selling 300 shares during the period. Monarch Capital Management Inc.’s holdings in ONEOK were worth $1,520,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. International Assets Investment Management LLC increased its stake in shares of ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after acquiring an additional 3,197,121 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 valued at $1,593,023,000 after acquiring an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of ONEOK in the third quarter worth about $47,957,000. Yaupon Capital Management LP acquired a new stake in ONEOK in the third quarter valued at approximately $45,194,000. Finally, National Bank of Canada FI increased its stake in ONEOK by 199.9% during the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock worth $63,605,000 after buying an additional 465,243 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE OKE opened at $109.08 on Friday. The stock has a market cap of $63.72 billion, a PE ratio of 22.82, a PEG ratio of 4.35 and a beta of 1.70. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm’s fifty day moving average price is $106.17 and its two-hundred day moving average price is $95.65.

ONEOK (NYSE:OKE) last issued 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 during the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the company posted $0.99 EPS. On average, equities analysts expect that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

OKE has been the subject of several research reports. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Barclays lifted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Truist Financial upped their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average price target of $101.54.

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.