Advisory Alpha LLC Boosts Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Advisory Alpha LLC grew its position in ONEOK, Inc. (NYSE:OKE) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,903 shares of the utilities provider’s stock after purchasing an additional 266 shares during the period. Advisory Alpha LLC’s holdings in ONEOK were worth $492,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OKE. Kieckhefer Group LLC bought a new position in shares of ONEOK during the 4th quarter worth approximately $30,000. Matrix Trust Co purchased a new stake in shares of ONEOK during the third quarter valued at approximately $29,000. Access Investment Management LLC bought a new stake in ONEOK during the third quarter worth $37,000. Values First Advisors Inc. purchased a new position in ONEOK in the third quarter worth $44,000. Finally, Fortitude Family Office LLC grew its stake in ONEOK by 37.4% in the 3rd 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 during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Down 3.2 %

Shares of NYSE OKE opened at $106.28 on Thursday. 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 company has a market cap of $62.09 billion, a P/E ratio of 22.23, a P/E/G ratio of 4.16 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $67.05 and a 52 week high of $118.07. The business has a 50-day simple moving average of $106.21 and a two-hundred day simple moving average of $96.21.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm 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 period in the prior year, the firm posted $0.99 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.88%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 82.85%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America began coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. Truist Financial boosted their target price 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. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a research report on Wednesday, December 18th. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, Scotiabank initiated coverage on ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.92.

ONEOK 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.