Wealthcare Advisory Partners LLC Boosts Position in ONEOK, Inc. (NYSE:OKE)

Wealthcare Advisory Partners LLC lifted its position in ONEOK, Inc. (NYSE:OKE) by 10.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,329 shares of the utilities provider’s stock after purchasing an additional 1,777 shares during the period. Wealthcare Advisory Partners LLC’s holdings in ONEOK were worth $1,840,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares in the last quarter. Geode Capital Management LLC lifted its position in ONEOK by 1.0% during the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after purchasing an additional 138,430 shares during the last quarter. Janus Henderson Group PLC grew 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 buying an additional 11,189 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of 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 buying an additional 3,197,121 shares during the last quarter. Finally, abrdn plc raised its position in shares of ONEOK by 14.8% during the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after buying an additional 277,514 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $109.08 on Friday. 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 has a 50-day moving average price of $106.17 and a 200-day moving average price of $95.65. The company has a market cap of $63.72 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 4.35 and a beta of 1.70. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly 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 business had revenue of $5.02 billion for the quarter, compared to the consensus estimate 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 previous year, the company earned $0.99 EPS. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.1 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on OKE shares. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Scotiabank initiated coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective on the stock. Royal Bank of Canada boosted their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Truist Financial increased their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Finally, Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $101.54.

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.