Atlas Wealth LLC Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Atlas Wealth LLC purchased a new position in ONEOK, Inc. (NYSE:OKE) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 2,689 shares of the utilities provider’s stock, valued at approximately $270,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kieckhefer Group LLC purchased a new position in ONEOK in the fourth quarter worth $30,000. Canton Hathaway LLC acquired a new position in shares of ONEOK in the 4th quarter valued at $40,000. J.Safra Asset Management Corp purchased a new position in ONEOK in the 4th quarter worth $48,000. VSM Wealth Advisory LLC acquired a new stake in ONEOK during the 4th quarter worth about $50,000. Finally, OFI Invest Asset Management purchased a new stake in ONEOK during the 4th quarter valued at about $51,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on OKE shares. Barclays decreased their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Scotiabank reduced their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Wells Fargo & Company lowered their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Truist Financial lifted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Finally, Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average target price of $103.31.

ONEOK Stock Down 1.2 %

Shares of OKE opened at $99.45 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. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. The stock’s 50 day moving average is $98.94 and its two-hundred day moving average is $99.80. The firm has a market cap of $62.09 billion, a P/E ratio of 20.81, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last issued its quarterly earnings results 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 analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company 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. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.14%. ONEOK’s payout ratio is presently 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.