Wealth Enhancement Advisory Services LLC Acquires 18,782 Shares of ONEOK, Inc. (NYSE:OKE)

Wealth Enhancement Advisory Services LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 9.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 218,544 shares of the utilities provider’s stock after purchasing an additional 18,782 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in ONEOK were worth $19,916,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of OKE. SteelPeak Wealth LLC boosted its stake in shares of ONEOK by 140.5% in the 1st quarter. SteelPeak Wealth LLC now owns 10,783 shares of the utilities provider’s stock valued at $864,000 after purchasing an additional 6,299 shares during the last quarter. Chapin Davis Inc. bought a new position in ONEOK during the 1st quarter worth approximately $253,000. Diversified Trust Co boosted its stake in ONEOK by 8.7% during the 1st quarter. Diversified Trust Co now owns 4,019 shares of the utilities provider’s stock worth $322,000 after acquiring an additional 323 shares during the last quarter. Oak Thistle LLC bought a new position in ONEOK during the 1st quarter worth approximately $398,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in ONEOK by 464.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 198,018 shares of the utilities provider’s stock worth $15,875,000 after acquiring an additional 162,963 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

NYSE OKE opened at $96.66 on Monday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a 12-month low of $63.33 and a 12-month high of $98.43. The company has a market capitalization of $56.42 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 4.31 and a beta of 1.67. The firm’s 50 day moving average is $92.85 and its 200-day moving average is $85.33.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period last year, the company earned $1.04 earnings per share. Equities research analysts anticipate that ONEOK, Inc. will post 4.98 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a dividend of $0.99 per share. The ex-dividend date is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.10%. ONEOK’s payout ratio is 92.09%.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

OKE has been the topic of several recent analyst reports. Scotiabank lifted their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Bank of America initiated coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Finally, Truist Financial lifted their price target on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.77.

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.