Regent Peak Wealth Advisors LLC Takes Position in ONEOK, Inc. (NYSE:OKE)

Regent Peak Wealth Advisors LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,064 shares of the utilities provider’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quest Partners LLC purchased a new position in ONEOK during the 2nd quarter worth $28,000. Matrix Trust Co purchased a new position in ONEOK during the third quarter worth about $29,000. Access Investment Management LLC bought a new stake in ONEOK in the 3rd quarter worth about $37,000. Values First Advisors Inc. bought a new stake in ONEOK in the 3rd quarter worth about $44,000. Finally, Fortitude Family Office LLC lifted its position in shares of ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after buying an additional 135 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Up 1.0 %

NYSE:OKE traded up $0.98 on Tuesday, reaching $102.60. 643,398 shares of the stock traded hands, compared to its average volume of 2,152,961. The company has a market capitalization of $59.94 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 5.24 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. The company’s fifty day simple moving average is $105.10 and its 200 day simple moving average is $94.34. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the previous year, the business posted $0.99 EPS. Equities analysts predict that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s payout ratio is currently 82.85%.

Analysts Set New Price Targets

Several research firms have recently issued reports on OKE. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $103.00 to $111.00 in a report on Monday, September 16th. Barclays raised their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Truist Financial boosted their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada boosted their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.00.

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.