Gateway Wealth Partners LLC Buys New Holdings in ONEOK, Inc. (NYSE:OKE)

Gateway Wealth Partners LLC bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,858 shares of the utilities provider’s stock, valued at approximately $689,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its stake in ONEOK by 3.9% during the 3rd 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 purchasing an additional 661,854 shares during the period. Geode Capital Management LLC increased its stake in ONEOK by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after acquiring an additional 138,430 shares during the last quarter. Janus Henderson Group PLC increased its stake in ONEOK by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after acquiring an additional 11,189 shares during the last quarter. International Assets Investment Management LLC increased its stake in ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after acquiring an additional 3,197,121 shares during the last quarter. Finally, abrdn plc increased its stake in ONEOK by 14.8% in the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock worth $195,545,000 after acquiring an additional 277,514 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 0.1 %

Shares of NYSE:OKE opened at $100.50 on Wednesday. The business’s 50-day moving average is $105.76 and its 200 day moving average is $96.82. ONEOK, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07. The firm has a market capitalization of $58.71 billion, a P/E ratio of 21.03, a P/E/G ratio of 4.03 and a beta of 1.70. 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 announced its earnings results 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). The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the prior year, the company earned $0.99 earnings per share. On average, research analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a $1.03 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.10%. ONEOK’s dividend payout ratio is currently 82.85%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Scotiabank assumed coverage on ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective on the stock. Barclays lifted their price objective on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a research note on Wednesday, December 18th. Royal Bank of Canada boosted their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Finally, Bank of America initiated coverage on ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.

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.