World Equity Group Inc. Buys Shares of 2,596 ONEOK, Inc. (NYSE:OKE)

World Equity Group Inc. bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, Holdings Channel.com reports. The fund bought 2,596 shares of the utilities provider’s stock, valued at approximately $261,000.

Other hedge funds have also recently added to or reduced their stakes in the company. National Pension Service increased its holdings in ONEOK by 1.6% during the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after acquiring an additional 12,349 shares in the last quarter. Leavell Investment Management Inc. increased its holdings in ONEOK by 3.8% during the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after acquiring an additional 5,175 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in ONEOK by 11.1% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock valued at $4,972,000 after acquiring an additional 5,451 shares in the last quarter. FNY Investment Advisers LLC increased its holdings in ONEOK by 14,279.1% during the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock valued at $2,208,000 after acquiring an additional 21,847 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its stake in shares of ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after purchasing an additional 5,321 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKE has been the topic of several analyst reports. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research note on Wednesday, December 18th. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Scotiabank initiated coverage on shares of ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. Finally, Truist Financial raised their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

ONEOK Trading Up 0.0 %

Shares of OKE stock opened at $98.14 on Tuesday. The stock has a market cap of $57.33 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a fifty-two week low of $72.44 and a fifty-two week high of $118.07. The firm’s 50 day moving average price is $101.09 and its two-hundred day moving average price is $98.96.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, analysts anticipate 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 given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.20%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s payout ratio is 86.19%.

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.