MONECO Advisors LLC Raises Holdings in ONEOK, Inc. (NYSE:OKE)

MONECO Advisors LLC lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,919 shares of the utilities provider’s stock after purchasing an additional 251 shares during the period. MONECO Advisors LLC’s holdings in ONEOK were worth $594,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of OKE. National Pension Service grew its stake in shares of ONEOK by 1.6% during the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after buying an additional 12,349 shares during the period. Leavell Investment Management Inc. grew its stake in shares of ONEOK by 3.8% during the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after buying an additional 5,175 shares during the period. Nations Financial Group Inc. IA ADV grew its stake in shares of ONEOK by 11.1% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock valued at $4,972,000 after buying an additional 5,451 shares during the period. FNY Investment Advisers LLC grew its stake in shares of ONEOK by 14,279.1% during the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock valued at $2,208,000 after buying an additional 21,847 shares during the period. Finally, Kingswood Wealth Advisors LLC grew 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 valued at $1,456,000 after buying an additional 5,321 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OKE has been the subject of several research reports. 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 note on Monday, February 10th. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Scotiabank began coverage on shares of ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price on the stock. Truist Financial lifted 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. Finally, US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Stock Performance

Shares of OKE stock opened at $98.14 on Tuesday. ONEOK, Inc. has a 12 month low of $72.44 and a 12 month high of $118.07. 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 firm has a market capitalization of $57.33 billion, a P/E ratio of 20.53, a P/E/G ratio of 3.77 and a beta of 1.70. The company’s fifty day moving average price is $101.09 and its two-hundred day moving average price is $98.96.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS 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%. On average, research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.20%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is presently 86.19%.

ONEOK 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.