World Equity Group Inc. Takes Position in ONEOK, Inc. (NYSE:OKE)

World Equity Group Inc. bought a new stake in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,596 shares of the utilities provider’s stock, valued at approximately $261,000.

Several other large investors have also modified their holdings of OKE. Charles Schwab Investment Management Inc. boosted its holdings in shares of ONEOK by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after buying an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of ONEOK in the 3rd quarter valued at $47,957,000. Yaupon Capital Management LP acquired a new position in shares of ONEOK in the 3rd quarter valued at $45,194,000. Strategic Financial Concepts LLC boosted its stake in ONEOK by 10,153.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock worth $49,662,000 after purchasing an additional 489,821 shares during the period. Finally, National Bank of Canada FI boosted its stake in ONEOK by 199.9% during the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock worth $63,605,000 after purchasing an additional 465,243 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE opened at $98.14 on Tuesday. The company has a 50-day simple moving average of $101.09 and a 200-day simple moving average of $98.96. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $57.33 billion, a PE ratio of 20.53, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $72.44 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts predict 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. Stockholders 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 4.20%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 86.19%.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of recent research reports. Truist Financial increased their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Monday, February 10th. UBS Group increased their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research note on Wednesday, December 18th. Finally, US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $103.92.

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.