ONEOK, Inc. (NYSE:OKE) Shares Bought by LPL Financial LLC

LPL Financial LLC raised its position in ONEOK, Inc. (NYSE:OKE) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,286,993 shares of the utilities provider’s stock after buying an additional 39,351 shares during the quarter. LPL Financial LLC owned approximately 0.22% of ONEOK worth $129,214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. FNY Investment Advisers LLC increased its position in ONEOK by 14,279.1% in the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock valued at $2,208,000 after acquiring an additional 21,847 shares during the period. Kingswood Wealth Advisors LLC grew its stake in shares of ONEOK by 57.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock valued at $1,456,000 after purchasing an additional 5,321 shares during the last quarter. Simon Quick Advisors LLC acquired a new position in shares of ONEOK in the fourth quarter valued at approximately $251,000. Rockefeller Capital Management L.P. raised its stake in shares of ONEOK by 1.9% during the third quarter. Rockefeller Capital Management L.P. now owns 275,137 shares of the utilities provider’s stock worth $25,070,000 after purchasing an additional 5,067 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of ONEOK by 9.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider’s stock worth $155,038,000 after purchasing an additional 136,071 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays cut their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Scotiabank reduced their price objective on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Wells Fargo & Company dropped their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Truist Financial lifted their price target 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 price objective for the company in a research report on Monday, February 10th. Seven investment 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. According to MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Stock Performance

Shares of OKE opened at $102.34 on Tuesday. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07. The stock has a market cap of $63.89 billion, a P/E ratio of 21.41, a PEG ratio of 3.77 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a 50-day moving average of $98.91 and a two-hundred day moving average of $99.99.

ONEOK (NYSE:OKE) last posted its 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 return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. As a group, research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 79.69%.

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.