CoreCap Advisors LLC Takes Position in ONEOK, Inc. (NYSE:OKE)

CoreCap Advisors LLC bought a new stake in ONEOK, Inc. (NYSE:OKE – Get Rating) in the 4th quarter, HoldingsChannel.com reports. The firm bought 3,793 shares of the utilities provider’s stock, valued at approximately $249,000.

A number of other large investors have also recently bought and sold shares of OKE. Cowa LLC boosted its stake in ONEOK by 9,775.0% during the 1st quarter. Cowa LLC now owns 5,324,428 shares of the utilities provider’s stock worth $3,761,000 after purchasing an additional 5,270,510 shares during the period. Vanguard Group Inc. boosted its stake in ONEOK by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 51,774,594 shares of the utilities provider’s stock worth $3,656,839,000 after purchasing an additional 1,043,147 shares during the period. Ensign Peak Advisors Inc boosted its stake in ONEOK by 266.7% during the 1st quarter. Ensign Peak Advisors Inc now owns 802,200 shares of the utilities provider’s stock worth $56,659,000 after purchasing an additional 583,454 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in ONEOK by 7.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,288,822 shares of the utilities provider’s stock worth $514,810,000 after purchasing an additional 527,138 shares during the period. Finally, First Trust Advisors LP boosted its stake in ONEOK by 34.6% during the 3rd quarter. First Trust Advisors LP now owns 1,870,902 shares of the utilities provider’s stock worth $95,865,000 after purchasing an additional 480,420 shares during the period. Institutional investors and hedge funds own 67.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Seaport Res Ptn restated a “neutral” rating on shares of ONEOK in a research report on Thursday, February 16th. JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, March 9th. Royal Bank of Canada cut their price objective on shares of ONEOK from $75.00 to $66.00 in a research report on Wednesday, May 17th. Mizuho upped their price objective on shares of ONEOK from $66.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, March 2nd. Finally, Truist Financial cut their price objective on shares of ONEOK from $71.00 to $66.00 in a research report on Wednesday, May 17th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $73.45.

ONEOK Price Performance

ONEOK stock opened at $57.57 on Friday. ONEOK, Inc. has a 12-month low of $50.50 and a 12-month high of $71.57. The stock has a market capitalization of $25.76 billion, a P/E ratio of 10.86, a P/E/G ratio of 1.71 and a beta of 1.68. The firm’s 50-day moving average is $62.93 and its two-hundred day moving average is $65.20. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.18 and a quick ratio of 0.92.

ONEOK (NYSE:OKE – Get Rating) last released its earnings results on Tuesday, May 2nd. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.53. ONEOK had a net margin of 11.09% and a return on equity of 36.54%. The business had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same period last year, the company earned $0.87 earnings per share. Equities analysts predict that ONEOK, Inc. will post 5.47 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Monday, May 1st were issued a $0.955 dividend. The ex-dividend date of this dividend was Friday, April 28th. This represents a $3.82 dividend on an annualized basis and a yield of 6.64%. ONEOK’s payout ratio is 72.08%.

About ONEOK

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ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.