Mutual Advisors LLC Boosts Stake in ONEOK, Inc. (NYSE:OKE)

Mutual Advisors LLC raised its holdings in ONEOK, Inc. (NYSE:OKE) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,883 shares of the utilities provider’s stock after acquiring an additional 103 shares during the period. Mutual Advisors LLC’s holdings in ONEOK were worth $965,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of OKE. Matrix Trust Co bought a new stake in ONEOK during the third quarter valued at approximately $29,000. Kieckhefer Group LLC bought a new stake in shares of ONEOK during the 4th quarter worth $30,000. Access Investment Management LLC purchased a new position in ONEOK in the third quarter worth $37,000. Values First Advisors Inc. bought a new position in ONEOK in the third quarter valued at $44,000. Finally, Fortitude Family Office LLC raised its position in ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 135 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.5 %

Shares of ONEOK stock opened at $104.42 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 $67.05 and a 12-month high of $118.07. The company has a market cap of $61.00 billion, a P/E ratio of 21.84, a PEG ratio of 4.03 and a beta of 1.70. The company’s fifty day simple moving average is $106.00 and its two-hundred day simple moving average is $96.50.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the prior year, the firm earned $0.99 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a dividend of $1.03 per share. The ex-dividend date is Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 3.95%. ONEOK’s payout ratio is currently 82.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on OKE shares. Scotiabank initiated coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective on the stock. Bank of America started coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Truist Financial lifted their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada upped their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.92.

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.