Steward Partners Investment Advisory LLC Increases Stake in ONEOK, Inc. (NYSE:OKE)

Steward Partners Investment Advisory LLC grew its position in ONEOK, Inc. (NYSE:OKE) by 10.9% during the 4th quarter, Holdings Channel reports. The fund owned 139,402 shares of the utilities provider’s stock after buying an additional 13,726 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in ONEOK were worth $13,996,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Astoria Portfolio Advisors LLC. grew its stake in ONEOK by 4.1% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after acquiring an additional 96 shares during the period. McAdam LLC boosted its holdings in shares of ONEOK by 3.8% during the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC grew its position in shares of ONEOK by 0.8% in the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock valued at $1,262,000 after purchasing an additional 100 shares during the period. Mutual Advisors LLC increased its stake in ONEOK by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after purchasing an additional 103 shares during the last quarter. Finally, Morton Capital Management LLC CA lifted its position in ONEOK by 1.4% during the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after buying an additional 104 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the subject of several recent analyst reports. Scotiabank assumed coverage on ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. Truist Financial boosted their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Barclays began coverage on shares of ONEOK in a research note on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price objective for the company. Finally, Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.15.

ONEOK Trading Down 3.1 %

Shares of OKE opened at $93.74 on Wednesday. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. The stock’s 50-day moving average is $100.66 and its two-hundred day moving average is $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. The stock has a market cap of $58.52 billion, a PE ratio of 19.61, a P/E/G ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion for 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%. Equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is 79.69%.

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.