Wealth Enhancement Advisory Services LLC Grows Holdings in ONEOK, Inc. (NYSE:OKE)

Wealth Enhancement Advisory Services LLC lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 223,459 shares of the utilities provider’s stock after buying an additional 4,915 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in ONEOK were worth $22,435,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC acquired a new position in ONEOK in the 2nd quarter valued at $1,768,000. Quest Partners LLC acquired a new position in ONEOK in the second quarter valued at $28,000. Ashton Thomas Private Wealth LLC purchased a new position in ONEOK during the second quarter worth about $117,000. American Century Companies Inc. boosted its stake in ONEOK by 10.8% in the 2nd quarter. American Century Companies Inc. now owns 742,649 shares of the utilities provider’s stock worth $60,563,000 after buying an additional 72,241 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its stake in shares of ONEOK by 0.9% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock valued at $1,111,000 after acquiring an additional 122 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the topic of several research analyst reports. Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Truist Financial lifted their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Barclays upped their price objective on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Finally, UBS Group boosted their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $101.54.

ONEOK Trading Down 1.0 %

OKE opened at $101.84 on Friday. The firm’s 50 day moving average is $105.63 and its 200-day moving average is $94.85. ONEOK, Inc. has a 52-week low of $67.05 and a 52-week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $59.49 billion, a P/E ratio of 21.31, a P/E/G ratio of 5.24 and a beta of 1.70.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the prior year, the firm earned $0.99 EPS. Analysts expect that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.89%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

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.