Crossmark Global Holdings Inc. Raises Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Crossmark Global Holdings Inc. grew its position in ONEOK, Inc. (NYSE:OKE) by 1.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 25,176 shares of the utilities provider’s stock after acquiring an additional 370 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in ONEOK were worth $2,527,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. National Pension Service grew its position in 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 purchasing an additional 12,349 shares during the last quarter. Leavell Investment Management Inc. grew its holdings in shares of ONEOK by 3.8% during the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after buying an additional 5,175 shares during the last quarter. Caxton Associates LP purchased a new position in shares of ONEOK in the 2nd quarter valued at approximately $1,225,000. Point72 Europe London LLP acquired a new position in shares of ONEOK in the second quarter valued at approximately $15,008,000. Finally, Nations Financial Group Inc. IA ADV raised its stake in shares of ONEOK by 11.1% during the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after purchasing an additional 5,451 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Trading Down 3.2 %

NYSE:OKE opened at $106.28 on Thursday. ONEOK, Inc. has a 52-week low of $67.05 and a 52-week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a fifty day simple moving average of $106.21 and a 200-day simple moving average of $96.21. The company has a market capitalization of $62.09 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 4.66 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion for 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 firm posted $0.99 EPS. On average, equities research analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared 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 an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 3.88%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Wall Street Analysts Forecast Growth

OKE has been the topic of several recent research reports. Barclays boosted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a research report on Wednesday, December 18th. Finally, Bank of America assumed coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.

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.