2,815 Shares in ONEOK, Inc. (NYSE:OKE) Bought by Williamson Legacy Group LLC

Williamson Legacy Group LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, Holdings Channel.com reports. The fund purchased 2,815 shares of the utilities provider’s stock, valued at approximately $283,000.

A number of other hedge funds have also recently added to or reduced their stakes in OKE. Arkadios Wealth Advisors boosted its holdings in ONEOK by 18.8% during the third quarter. Arkadios Wealth Advisors now owns 3,315 shares of the utilities provider’s stock worth $302,000 after buying an additional 525 shares in the last quarter. Pinnacle Associates Ltd. boosted its holdings in ONEOK by 37.7% during the third quarter. Pinnacle Associates Ltd. now owns 5,776 shares of the utilities provider’s stock worth $526,000 after buying an additional 1,582 shares in the last quarter. HM Payson & Co. boosted its holdings in ONEOK by 6.3% during the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after buying an additional 105 shares in the last quarter. US Bancorp DE boosted its holdings in ONEOK by 2.4% during the third quarter. US Bancorp DE now owns 86,296 shares of the utilities provider’s stock worth $7,864,000 after buying an additional 2,012 shares in the last quarter. Finally, Stephens Inc. AR lifted its holdings in ONEOK by 1.0% during the third quarter. Stephens Inc. AR now owns 41,028 shares of the utilities provider’s stock valued at $3,739,000 after purchasing an additional 403 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on OKE. Scotiabank began coverage on shares of ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective on the stock. Wells Fargo & Company decreased their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Truist Financial increased their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Finally, Citigroup began coverage on shares of ONEOK in a report on Friday. They set a “buy” rating and a $110.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $104.15.

ONEOK Stock Performance

NYSE:OKE opened at $100.29 on Friday. The company’s 50-day moving average price is $100.91 and its 200-day moving average price is $99.10. 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 company has a market cap of $58.59 billion, a P/E ratio of 20.98, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $74.39 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings data 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. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company 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 is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 86.19%.

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.