Mystic Asset Management Inc. Increases Position in ONEOK, Inc. (NYSE:OKE)

Mystic Asset Management Inc. lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 18.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,583 shares of the utilities provider’s stock after purchasing an additional 700 shares during the quarter. Mystic Asset Management Inc.’s holdings in ONEOK were worth $460,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kieckhefer Group LLC purchased a new position in shares of ONEOK in the 4th quarter valued at about $30,000. Canton Hathaway LLC purchased a new stake in ONEOK during the 4th quarter worth approximately $40,000. J.Safra Asset Management Corp purchased a new stake in ONEOK during the 4th quarter worth approximately $48,000. OFI Invest Asset Management purchased a new stake in ONEOK during the 4th quarter worth approximately $51,000. Finally, Versant Capital Management Inc increased its stake in ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after buying an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE:OKE opened at $97.95 on Wednesday. The firm has a market capitalization of $61.15 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The business’s fifty day moving average price is $99.08 and its 200 day moving average price is $99.74. 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, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 4.21%. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 79.69%.

Analyst Ratings Changes

Several research firms have commented on OKE. Scotiabank cut their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Barclays cut their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Truist Financial boosted their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Finally, Citigroup began coverage on ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $103.31.

About ONEOK

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.