PFG Advisors Has $645,000 Holdings in ONEOK, Inc. (NYSE:OKE)

PFG Advisors grew its stake in ONEOK, Inc. (NYSE:OKE) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,420 shares of the utilities provider’s stock after buying an additional 188 shares during the quarter. PFG Advisors’ holdings in ONEOK were worth $645,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. FNY Investment Advisers LLC raised its position in ONEOK by 14,279.1% during the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after acquiring an additional 21,847 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its stake in shares of ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after buying an additional 5,321 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of ONEOK by 222.3% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 16,181 shares of the utilities provider’s stock worth $1,475,000 after buying an additional 11,160 shares during the last quarter. Mizuho Securities USA LLC lifted its stake in shares of ONEOK by 130.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 103,648 shares of the utilities provider’s stock worth $9,445,000 after buying an additional 58,649 shares during the last quarter. Finally, Simon Quick Advisors LLC acquired a new stake in ONEOK in the 4th quarter worth about $251,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE OKE opened at $96.52 on Friday. The firm’s 50-day moving average price is $99.21 and its 200-day moving average price is $99.49. ONEOK, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07. The firm has a market capitalization of $60.26 billion, a P/E ratio of 20.19, a P/E/G ratio of 3.77 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.18 billion. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date was Monday, February 3rd. This is a positive change 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 OKE shares. Wells Fargo & Company dropped their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. UBS Group raised their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Truist Financial lifted their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, Barclays cut their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $103.31.

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.