FFT Wealth Management LLC Purchases 334 Shares of ONEOK, Inc. (NYSE:OKE)

FFT Wealth Management LLC grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,584 shares of the utilities provider’s stock after buying an additional 334 shares during the quarter. FFT Wealth Management LLC’s holdings in ONEOK were worth $3,071,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Kieckhefer Group LLC bought a new stake in ONEOK during the 4th quarter worth approximately $30,000. Access Investment Management LLC bought a new stake in shares of ONEOK during the third quarter worth $37,000. Canton Hathaway LLC bought a new stake in shares of ONEOK during the fourth quarter worth $40,000. Fortitude Family Office LLC raised its holdings in shares of ONEOK by 37.4% in the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after buying an additional 135 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after buying an additional 260 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 2.5 %

Shares of NYSE OKE opened at $95.66 on Wednesday. ONEOK, Inc. has a 52-week low of $72.44 and a 52-week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a market cap of $55.88 billion, a P/E ratio of 20.01, a P/E/G ratio of 3.77 and a beta of 1.70. The firm has a 50 day moving average price of $100.97 and a 200 day moving average price of $99.04.

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 the consensus estimate of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.31%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 86.19%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a research note on Wednesday, December 18th. UBS Group upped their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Barclays started coverage on ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 target price for the company. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research note on Monday, February 10th. Finally, Truist Financial lifted their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $103.92.

About ONEOK

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.