Carnegie Investment Counsel Purchases 4,299 Shares of ONEOK, Inc. (NYSE:OKE)

Carnegie Investment Counsel raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 63.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,059 shares of the utilities provider’s stock after acquiring an additional 4,299 shares during the period. Carnegie Investment Counsel’s holdings in ONEOK were worth $1,110,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of OKE. Charles Schwab Investment Management Inc. raised its position in shares of 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 valued at $1,593,023,000 after buying an additional 661,854 shares during the last quarter. Geode Capital Management LLC raised its position in shares of ONEOK by 1.0% during the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after buying an additional 138,430 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of ONEOK by 0.3% during the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after buying an additional 11,189 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after buying an additional 3,197,121 shares during the last quarter. Finally, abrdn plc raised its position in shares of ONEOK by 14.8% during the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after buying an additional 277,514 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Price Performance

OKE opened at $109.08 on Friday. ONEOK, Inc. has a one year low of $67.05 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company’s 50 day simple moving average is $106.17 and its 200-day simple moving average is $95.65. The stock has a market capitalization of $63.72 billion, a P/E ratio of 22.82, a price-to-earnings-growth ratio of 4.35 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS 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 for the quarter, compared to the consensus estimate of $5.81 billion. During the same period last year, the company earned $0.99 earnings per share. Sell-side analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Barclays upped their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. UBS Group increased their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada increased their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.54.

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.