RWA Wealth Partners LLC Decreases Stock Holdings in ONEOK, Inc. (NYSE:OKE)

RWA Wealth Partners LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 0.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 36,937 shares of the utilities provider’s stock after selling 229 shares during the quarter. RWA Wealth Partners LLC’s holdings in ONEOK were worth $3,709,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Kieckhefer Group LLC bought a new position in shares of ONEOK during the fourth quarter valued at approximately $30,000. Canton Hathaway LLC purchased a new position in shares of ONEOK during the fourth quarter valued at about $40,000. J.Safra Asset Management Corp bought a new stake in ONEOK during the 4th quarter valued at approximately $48,000. VSM Wealth Advisory LLC bought a new position in shares of ONEOK in the 4th quarter worth approximately $50,000. Finally, OFI Invest Asset Management bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $51,000. 69.13% of the stock is owned by institutional investors.

ONEOK Trading Down 0.2 %

NYSE:OKE opened at $98.47 on Monday. The business has a fifty day moving average price of $98.32 and a 200-day moving average price of $100.24. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market capitalization of $61.48 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

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 business had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 4.18%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio is presently 79.69%.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of recent research reports. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Morgan Stanley raised their price objective on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Truist Financial lifted their price target 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 reduced their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Finally, Barclays decreased their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Seven investment 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.00.

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.