2,022 Shares in ONEOK, Inc. (NYSE:OKE) Bought by WPWealth LLP

WPWealth LLP bought a new stake in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,022 shares of the utilities provider’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds also recently made changes to their positions in OKE. Kieckhefer Group LLC acquired a new position in ONEOK during the 4th quarter worth $30,000. Canton Hathaway LLC bought a new stake in ONEOK in the fourth quarter valued at about $40,000. J.Safra Asset Management Corp acquired a new stake in ONEOK during the fourth quarter valued at approximately $48,000. VSM Wealth Advisory LLC bought a new position in ONEOK during the 4th quarter worth approximately $50,000. Finally, OFI Invest Asset Management bought a new stake in shares of ONEOK in the 4th quarter valued at approximately $51,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

OKE opened at $86.19 on Monday. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07. The company has a market capitalization of $53.84 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. The business has a 50 day moving average price of $93.39 and a two-hundred day moving average price of $99.40. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. Research analysts predict 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. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.78%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 79.69%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research report on Monday, February 10th. Scotiabank cut their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Barclays lowered their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Finally, Citigroup started coverage on ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.42.

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.