Seneca House Advisors Has $7.06 Million Stake in ONEOK, Inc. (NYSE:OKE)

Seneca House Advisors reduced its holdings in ONEOK, Inc. (NYSE:OKE) by 9.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,333 shares of the utilities provider’s stock after selling 7,525 shares during the quarter. ONEOK accounts for about 2.8% of Seneca House Advisors’ investment portfolio, making the stock its 13th largest holding. Seneca House Advisors’ holdings in ONEOK were worth $7,061,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. New Century Financial Group LLC grew its position in shares of ONEOK by 3.7% in the 4th quarter. New Century Financial Group LLC now owns 3,142 shares of the utilities provider’s stock valued at $323,000 after purchasing an additional 113 shares during the period. Veracity Capital LLC lifted its stake in ONEOK by 0.7% in the fourth quarter. Veracity Capital LLC now owns 27,959 shares of the utilities provider’s stock valued at $2,807,000 after buying an additional 195 shares in the last quarter. Red Door Wealth Management LLC boosted its holdings in shares of ONEOK by 1.3% in the fourth quarter. Red Door Wealth Management LLC now owns 14,468 shares of the utilities provider’s stock valued at $1,453,000 after buying an additional 181 shares during the period. Donoghue Forlines LLC increased its position in shares of ONEOK by 250.3% during the fourth quarter. Donoghue Forlines LLC now owns 14,953 shares of the utilities provider’s stock worth $1,501,000 after acquiring an additional 10,684 shares in the last quarter. Finally, Trust Co. of Oklahoma raised its holdings in shares of ONEOK by 12.4% during the fourth quarter. Trust Co. of Oklahoma now owns 3,744 shares of the utilities provider’s stock worth $376,000 after acquiring an additional 414 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Scotiabank began coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective for the company. Truist Financial lifted 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 upped their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Finally, Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $102.92.

ONEOK Trading Down 1.3 %

ONEOK stock opened at $104.91 on Friday. The stock has a 50-day simple moving average of $106.17 and a 200 day simple moving average of $96.28. The stock has a market capitalization of $61.29 billion, a P/E ratio of 21.95, a PEG ratio of 4.03 and a beta of 1.70. 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 52 week low of $67.05 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. Analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 3.93%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

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.