OneAscent Wealth Management LLC Invests $226,000 in ONEOK, Inc. (NYSE:OKE)

OneAscent Wealth Management LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,255 shares of the utilities provider’s stock, valued at approximately $226,000.

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

ONEOK Trading Down 0.2 %

NYSE OKE opened at $98.47 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The company has a 50-day simple moving average of $98.32 and a 200-day simple moving average of $100.17. The firm has a market capitalization of $61.48 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.18%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 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. Citigroup started coverage on ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 target price on the stock. Scotiabank lowered their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Finally, Morgan Stanley upped their target price on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

ONEOK Company 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.