Cambridge Trust Co. Grows Holdings in ONEOK, Inc. (NYSE:OKE)

Posted by Defense World Staff on Mar 19th, 2023

Cambridge Trust Co. lifted its holdings in ONEOK, Inc. (NYSE:OKE – Get Rating) by 16.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,740 shares of the utilities provider’s stock after buying an additional 1,221 shares during the quarter. Cambridge Trust Co.’s holdings in ONEOK were worth $574,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MinichMacGregor Wealth Management LLC bought a new position in ONEOK in the 4th quarter worth about $29,000. Worth Asset Management LLC bought a new position in ONEOK in the 1st quarter worth about $30,000. First Command Bank boosted its stake in ONEOK by 401.0% in the 2nd quarter. First Command Bank now owns 491 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 393 shares in the last quarter. Ronald Blue Trust Inc. bought a new position in ONEOK in the 2nd quarter worth about $36,000. Finally, CI Investments Inc. lifted its stake in ONEOK by 1,003.7% during the 3rd quarter. CI Investments Inc. now owns 596 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 542 shares during the period. 67.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OKE has been the topic of several research analyst reports. Seaport Res Ptn restated a “neutral” rating on shares of ONEOK in a research note on Thursday, February 16th. Morgan Stanley upped their target price on shares of ONEOK from $70.00 to $81.00 and gave the company an “equal weight” rating in a research note on Monday, January 9th. Wells Fargo & Company upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $68.00 to $75.00 in a research note on Friday, December 16th. Mizuho upped their target price on shares of ONEOK from $66.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, March 2nd. Finally, Truist Financial upped their target price on shares of ONEOK from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, December 21st. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, ONEOK has an average rating of “Hold” and an average price target of $73.44.

ONEOK Trading Down 2.5 %

ONEOK stock opened at $59.49 on Friday. The firm has a 50 day moving average of $67.73 and a 200 day moving average of $63.35. The firm has a market capitalization of $26.61 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 1.32 and a beta of 1.68. ONEOK, Inc. has a 12-month low of $50.50 and a 12-month high of $75.07. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.96.

ONEOK (NYSE:OKE – Get Rating) last released its earnings results on Monday, February 27th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.06. The company had revenue of $5.03 billion during the quarter, compared to analyst estimates of $6.03 billion. ONEOK had a net margin of 7.69% and a return on equity of 27.65%. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 EPS. As a group, research analysts predict that ONEOK, Inc. will post 5.28 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Monday, January 30th were issued a $0.955 dividend. This represents a $3.82 annualized dividend and a yield of 6.42%. This is a positive change from ONEOK’s previous quarterly dividend of $0.94. The ex-dividend date was Friday, January 27th. ONEOK’s dividend payout ratio is currently 99.74%.

ONEOK Company Profile

(Get Rating)

ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.

Cambridge Trust Co. Grows Holdings in ONEOK, Inc. (NYSE:OKE)

Wall Street Analyst Weigh In

ONEOK Trading Down 2.5 %

ONEOK Increases Dividend

ONEOK Company Profile

Further Reading

You might be interested in: