Larson Financial Group LLC Buys 3,658 Shares of ONEOK, Inc. (NYSE:OKE)

Larson Financial Group LLC lifted its position in ONEOK, Inc. (NYSE:OKE) by 12.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,707 shares of the utilities provider’s stock after buying an additional 3,658 shares during the period. Larson Financial Group LLC’s holdings in ONEOK were worth $3,384,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Kieckhefer Group LLC acquired a new position in shares of ONEOK during the fourth quarter worth $30,000. Access Investment Management LLC acquired a new stake in ONEOK during the 3rd quarter worth about $37,000. Canton Hathaway LLC acquired a new stake in ONEOK during the 4th quarter worth about $40,000. J.Safra Asset Management Corp acquired a new stake in ONEOK during the 4th quarter worth about $48,000. Finally, Versant Capital Management Inc grew its holdings 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 acquiring an additional 260 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on OKE. Citigroup assumed coverage on shares of ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price target for the company. Wolfe Research raised 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. Barclays cut their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday. Scotiabank cut their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday. Finally, Truist Financial increased their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and a consensus price target of $103.31.

ONEOK Price Performance

OKE opened at $89.59 on Friday. 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 company has a market capitalization of $55.93 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 3.77 and a beta of 1.70. The firm’s fifty day moving average price is $100.00 and its two-hundred day moving average price is $99.29. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, analysts anticipate 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. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s payout ratio is 79.69%.

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.