FFT Wealth Management LLC Buys 334 Shares of ONEOK, Inc. (NYSE:OKE)

FFT Wealth Management LLC boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 30,584 shares of the utilities provider’s stock after acquiring an additional 334 shares during the period. FFT Wealth Management LLC’s holdings in ONEOK were worth $3,071,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after buying an additional 138,430 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of ONEOK by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after acquiring an additional 11,189 shares in the last quarter. abrdn plc increased its position in shares of ONEOK by 14.8% in the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after acquiring an additional 277,514 shares during the last quarter. Finally, Chickasaw Capital Management LLC raised its holdings in ONEOK by 15.2% during the fourth quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock worth $200,031,000 after acquiring an additional 263,545 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

Shares of ONEOK stock opened at $95.66 on Wednesday. The company has a 50 day moving average of $100.97 and a 200-day moving average of $99.04. The company has a market cap of $55.88 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 1-year low of $72.44 and a 1-year high of $118.07.

ONEOK (NYSE:OKE) last issued its 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 return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.31%. ONEOK’s payout ratio is presently 86.19%.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of analyst reports. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Scotiabank started coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. Truist Financial lifted their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. Finally, Barclays began coverage on ONEOK in a research note on Thursday, February 6th. They set an “equal weight” rating and a $105.00 target price for the company. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

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.