Ranch Capital Advisors Inc. Buys 731 Shares of ONEOK, Inc. (NYSE:OKE)

Ranch Capital Advisors Inc. increased its stake in ONEOK, Inc. (NYSE:OKE) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,717 shares of the utilities provider’s stock after purchasing an additional 731 shares during the period. Ranch Capital Advisors Inc.’s holdings in ONEOK were worth $1,779,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Independent Advisor Alliance increased its position in shares of ONEOK by 12.1% in the fourth quarter. Independent Advisor Alliance now owns 20,467 shares of the utilities provider’s stock worth $2,055,000 after purchasing an additional 2,216 shares during the period. Altiora Financial Group LLC bought a new position in ONEOK in the fourth quarter valued at about $201,000. Johnson Investment Counsel Inc. grew its position in ONEOK by 15.6% in the fourth quarter. Johnson Investment Counsel Inc. now owns 15,659 shares of the utilities provider’s stock valued at $1,572,000 after acquiring an additional 2,119 shares during the last quarter. Daiwa Securities Group Inc. grew its position in ONEOK by 1.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 85,970 shares of the utilities provider’s stock valued at $8,632,000 after acquiring an additional 1,062 shares during the last quarter. Finally, Enterprise Financial Services Corp bought a new position in ONEOK in the fourth quarter valued at about $215,000. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on OKE shares. Truist Financial lifted their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company dropped their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. 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 report on Monday, February 10th. Scotiabank decreased their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday. Finally, Citigroup initiated coverage on ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 price target for the company. Seven investment 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Stock Down 0.2 %

Shares of NYSE OKE opened at $89.59 on Monday. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. 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 business’s fifty day moving average price is $100.00 and its 200-day moving average price is $99.46. The stock has a market capitalization of $55.93 billion, a PE ratio of 18.74, a P/E/G 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 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued 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 dividend on an annualized basis and a yield of 4.60%. ONEOK’s dividend payout ratio is 79.69%.

ONEOK Company 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.