Bay Capital Advisors LLC Takes $249,000 Position in ONEOK, Inc. (NYSE:OKE)

Bay Capital Advisors LLC bought a new position in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, Holdings Channel reports. The firm bought 2,478 shares of the utilities provider’s stock, valued at approximately $249,000.

Other large investors have also added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new stake in ONEOK in the 4th quarter valued at about $30,000. Canton Hathaway LLC bought a new position in shares of ONEOK during the 4th quarter valued at approximately $40,000. J.Safra Asset Management Corp purchased a new stake in shares of ONEOK during the 4th quarter worth approximately $48,000. VSM Wealth Advisory LLC bought a new position in ONEOK during the fourth quarter valued at $50,000. Finally, OFI Invest Asset Management purchased a new stake in ONEOK in the fourth quarter worth $51,000. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the subject of several recent research reports. Wolfe Research raised 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. Barclays decreased their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Citigroup began coverage on shares of ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price target for the company. Scotiabank decreased their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Finally, Truist Financial lifted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Seven 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. Based on data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Price Performance

Shares of OKE stock opened at $102.34 on Tuesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market cap of $63.89 billion, a P/E ratio of 21.41, a P/E/G ratio of 3.77 and a beta of 1.70. The business’s 50 day moving average price is $98.91 and its 200-day moving average price is $99.99. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion during the quarter, compared to analyst estimates 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 earnings per share 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 given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 79.69%.

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.