Regent Peak Wealth Advisors LLC Takes Position in ONEOK, Inc. (NYSE:OKE)

Regent Peak Wealth Advisors LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the fourth quarter, Holdings Channel.com reports. The firm acquired 2,064 shares of the utilities provider’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OKE. Matrix Trust Co acquired a new stake in ONEOK in the 3rd quarter worth about $29,000. Kieckhefer Group LLC acquired a new position in ONEOK during the fourth quarter worth about $30,000. Access Investment Management LLC purchased a new stake in shares of ONEOK in the third quarter valued at approximately $37,000. Values First Advisors Inc. purchased a new stake in ONEOK in the 3rd quarter valued at $44,000. Finally, Fortitude Family Office LLC grew its holdings in shares of ONEOK by 37.4% in the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 135 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on OKE. Truist Financial lifted their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. UBS Group boosted their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Barclays raised their price target on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada boosted their price objective on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average price target of $102.92.

ONEOK Stock Up 0.4 %

Shares of NYSE:OKE opened at $109.08 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07. The stock has a market cap of $63.72 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 4.66 and a beta of 1.70. The firm’s 50 day moving average price is $106.17 and its 200 day moving average price is $95.83.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the firm posted $0.99 earnings per share. As a group, equities research analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

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.