Kovack Advisors Inc. Buys 1,347 Shares of ONEOK, Inc. (NYSE:OKE)

Kovack Advisors Inc. grew its stake in ONEOK, Inc. (NYSE:OKE) by 20.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 8,042 shares of the utilities provider’s stock after buying an additional 1,347 shares during the quarter. Kovack Advisors Inc.’s holdings in ONEOK were worth $807,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. National Pension Service raised its stake in shares of ONEOK by 1.6% in the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after purchasing an additional 12,349 shares during the period. Leavell Investment Management Inc. grew its holdings in shares of ONEOK by 3.8% during the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after buying an additional 5,175 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its position in ONEOK by 11.1% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock valued at $4,972,000 after buying an additional 5,451 shares during the last quarter. FNY Investment Advisers LLC lifted its stake 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 in the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its position in ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after acquiring an additional 5,321 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 0.9 %

OKE stock opened at $96.62 on Friday. ONEOK, Inc. has a 1-year low of $73.89 and a 1-year high of $118.07. The business’s 50 day simple moving average is $100.91 and its 200 day simple moving average is $99.00. 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 firm has a market capitalization of $56.44 billion, a PE ratio of 20.21, a PEG 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 EPS for the quarter, beating the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, 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. Shareholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.26%. ONEOK’s dividend payout ratio (DPR) is 86.19%.

Wall Street Analyst Weigh In

OKE has been the topic of a number of recent research reports. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Truist Financial lifted their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average target price of $103.54.

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.