94,453 Shares in ONEOK, Inc. (NYSE:OKE) Acquired by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 94,453 shares of the utilities provider’s stock, valued at approximately $9,483,000. ONEOK comprises 2.0% of Contravisory Investment Management Inc.’s portfolio, making the stock its 16th biggest holding.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC boosted its position 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 worth $294,440,000 after acquiring an additional 3,197,121 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after acquiring an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of ONEOK in the third quarter worth about $47,957,000. Yaupon Capital Management LP acquired a new stake in shares of ONEOK in the 3rd quarter valued at approximately $45,194,000. Finally, National Bank of Canada FI grew its holdings in shares of ONEOK by 199.9% during the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock valued at $63,605,000 after purchasing an additional 465,243 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Truist Financial increased their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Scotiabank initiated coverage on ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price for the company. Bank of America started coverage on ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. Finally, UBS Group raised their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $101.54.

ONEOK Price Performance

ONEOK stock opened at $106.83 on Thursday. The stock’s 50 day moving average price is $105.95 and its two-hundred day moving average price is $95.28. The stock has a market capitalization of $62.41 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 4.35 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 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 the consensus estimate of $5.81 billion. During the same period last year, the firm posted $0.99 earnings per share. On average, equities analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current year.

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.