Triad Wealth Partners LLC Acquires Shares of 2,337 ONEOK, Inc. (NYSE:OKE)

Triad Wealth Partners LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,337 shares of the utilities provider’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC bought a new stake in shares of ONEOK during the 4th quarter valued at $30,000. Access Investment Management LLC bought a new stake in shares of ONEOK during the 3rd quarter valued at $37,000. Canton Hathaway LLC bought a new stake in shares of ONEOK during the 4th quarter valued at $40,000. Versant Capital Management Inc lifted its position in shares of ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 260 shares during the period. Finally, FSA Wealth Management LLC bought a new stake in shares of ONEOK during the 3rd quarter valued at $57,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on OKE. Scotiabank began coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price for the company. Truist Financial upped their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company dropped their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Finally, Citigroup began coverage on ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 price objective for the company. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus price target of $104.15.

ONEOK Price Performance

ONEOK stock opened at $91.95 on Thursday. 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 capitalization of $57.40 billion, a PE ratio of 19.24, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. The stock has a 50-day moving average price of $100.45 and a two-hundred day moving average price of $99.34.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.48%. ONEOK’s dividend payout ratio is presently 79.69%.

ONEOK Company 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.