Schechter Investment Advisors LLC Grows Stake in ONEOK, Inc. (NYSE:OKE)

Schechter Investment Advisors LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,604 shares of the utilities provider’s stock after acquiring an additional 241 shares during the period. Schechter Investment Advisors LLC’s holdings in ONEOK were worth $864,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in OKE. Kieckhefer Group LLC bought a new stake in ONEOK in the fourth quarter worth about $30,000. Access Investment Management LLC bought a new stake in ONEOK in the third quarter worth about $37,000. Canton Hathaway LLC bought a new stake in ONEOK in the fourth quarter worth about $40,000. Versant Capital Management Inc lifted its stake in ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 260 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in ONEOK in the third quarter worth about $57,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $93.74 on Wednesday. The company has a market capitalization of $58.52 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $76.23 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 50 day moving average of $100.66 and a 200 day moving average of $99.40.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. On average, sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.40%. The ex-dividend date was Monday, February 3rd. ONEOK’s payout ratio is currently 79.69%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Citigroup assumed coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. 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. Wells Fargo & Company decreased their price target 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. Wolfe Research raised shares of 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. Finally, 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 research note on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $104.15.

ONEOK Company 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.