ONEOK, Inc. (NYSE:OKE) Shares Acquired by 1620 Investment Advisors Inc.

1620 Investment Advisors Inc. boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,880 shares of the utilities provider’s stock after purchasing an additional 112 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in ONEOK were worth $590,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC boosted its holdings in ONEOK by 14,279.1% in the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock valued at $2,208,000 after purchasing an additional 21,847 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in ONEOK by 57.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock valued at $1,456,000 after purchasing an additional 5,321 shares in the last quarter. Simon Quick Advisors LLC acquired a new position in ONEOK in the fourth quarter valued at approximately $251,000. Rockefeller Capital Management L.P. lifted its stake in ONEOK by 1.9% in the third quarter. Rockefeller Capital Management L.P. now owns 275,137 shares of the utilities provider’s stock valued at $25,070,000 after buying an additional 5,067 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in ONEOK by 9.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider’s stock valued at $155,038,000 after buying an additional 136,071 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Up 0.7 %

ONEOK stock opened at $100.75 on Friday. 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 capitalization of $62.90 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07. The stock’s fifty day moving average is $98.99 and its two-hundred day moving average is $99.75.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion for 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%. Analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal 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 paid a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.09%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on OKE shares. Scotiabank reduced their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Monday, February 10th. Barclays cut their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Truist Financial upped their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company cut their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.31.

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.