LVM Capital Management Ltd. MI Invests $679,000 in ONEOK, Inc. (NYSE:OKE)

LVM Capital Management Ltd. MI purchased a new stake in ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,765 shares of the utilities provider’s stock, valued at approximately $679,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. National Pension Service grew its position in shares of ONEOK by 1.6% during the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after buying an additional 12,349 shares in the last quarter. Leavell Investment Management Inc. lifted its stake in ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after acquiring an additional 5,175 shares during the period. Caxton Associates LP bought a new position in ONEOK during the 2nd quarter worth about $1,225,000. Point72 Europe London LLP purchased a new position in ONEOK during the 2nd quarter valued at about $15,008,000. Finally, Nations Financial Group Inc. IA ADV raised its holdings in shares of ONEOK by 11.1% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock valued at $4,972,000 after purchasing an additional 5,451 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE OKE traded down $1.39 during trading hours on Friday, reaching $101.46. The stock had a trading volume of 1,279,750 shares, compared to its average volume of 2,339,034. ONEOK, Inc. has a 52-week low of $67.05 and a 52-week high of $118.07. The stock has a fifty day moving average of $105.46 and a 200 day moving average of $94.61. 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 stock has a market cap of $59.27 billion, a P/E ratio of 21.23, a price-to-earnings-growth ratio of 5.24 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its quarterly earnings data 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). The business had revenue of $5.02 billion during the quarter, compared to analyst estimates 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 previous year, the company earned $0.99 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed 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 was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.90%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Analyst Ratings Changes

Several equities analysts recently issued reports on OKE shares. Barclays lifted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Truist Financial boosted their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Bank of America started coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Finally, Royal Bank of Canada lifted their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $101.54.

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.