Fidelis Capital Partners LLC Acquires 297 Shares of ONEOK, Inc. (NYSE:OKE)

Fidelis Capital Partners LLC boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 9.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,421 shares of the utilities provider’s stock after purchasing an additional 297 shares during the period. Fidelis Capital Partners LLC’s holdings in ONEOK were worth $334,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in OKE. Charles Schwab Investment Management Inc. increased its holdings 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 buying an additional 661,854 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of ONEOK during the 3rd quarter valued at approximately $47,957,000. National Pension Service increased its stake in shares of ONEOK by 65.3% during the 4th quarter. National Pension Service now owns 1,262,741 shares of the utilities provider’s stock worth $126,779,000 after purchasing an additional 498,908 shares during the last quarter. Yaupon Capital Management LP bought a new stake in shares of ONEOK in the 3rd quarter worth approximately $45,194,000. Finally, Strategic Financial Concepts LLC lifted its stake in ONEOK by 10,153.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock valued at $49,662,000 after purchasing an additional 489,821 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Down 3.1 %

Shares of OKE stock opened at $93.74 on Wednesday. The company has a market capitalization of $58.52 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. The business’s fifty day moving average is $100.66 and its 200 day moving average is $99.40. 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 (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share 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 analysts’ expectations of $6.18 billion. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $1.03 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.40%. ONEOK’s dividend payout ratio is presently 79.69%.

Analysts Set New Price Targets

A number of analysts have issued reports on OKE shares. Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Barclays began coverage on ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Scotiabank initiated coverage on shares of ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. Finally, Truist Financial lifted 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. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $104.15.

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.