Flagship Wealth Advisors LLC Buys Shares of 6,556 ONEOK, Inc. (NYSE:OKE)

Flagship Wealth Advisors LLC bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, HoldingsChannel reports. The firm bought 6,556 shares of the utilities provider’s stock, valued at approximately $658,000.

Several other large investors have also made changes to their positions in the company. FNY Investment Advisers LLC raised its stake in shares of ONEOK by 14,279.1% in the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock valued at $2,208,000 after purchasing an additional 21,847 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its stake in ONEOK by 57.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock valued at $1,456,000 after buying an additional 5,321 shares during the period. Fifth Third Wealth Advisors LLC lifted its stake in ONEOK by 222.3% in the third quarter. Fifth Third Wealth Advisors LLC now owns 16,181 shares of the utilities provider’s stock valued at $1,475,000 after buying an additional 11,160 shares during the period. Mizuho Securities USA LLC raised its position in shares of ONEOK by 130.3% during the third quarter. Mizuho Securities USA LLC now owns 103,648 shares of the utilities provider’s stock worth $9,445,000 after purchasing an additional 58,649 shares during the period. Finally, Simon Quick Advisors LLC bought a new position in shares of ONEOK during the fourth quarter worth about $251,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE opened at $96.52 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The business’s 50 day moving average price is $99.21 and its 200-day moving average price is $99.65. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07. The stock has a market cap of $60.26 billion, a P/E ratio of 20.19, a P/E/G ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. The business 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%. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share 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 dividend of $1.03 per share. This is a positive change 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 dividend yield of 4.27%. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wells Fargo & Company decreased their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note 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 report on Tuesday, December 3rd. Scotiabank reduced their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, Barclays dropped their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $103.31.

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.