RKL Wealth Management LLC Boosts Stock Holdings in ONEOK, Inc. (NYSE:OKE)

RKL Wealth Management LLC raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 6.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,064 shares of the utilities provider’s stock after acquiring an additional 823 shares during the period. RKL Wealth Management LLC’s holdings in ONEOK were worth $1,312,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Mesirow Financial Investment Management Inc. boosted its position in ONEOK by 0.4% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 53,454 shares of the utilities provider’s stock valued at $5,367,000 after buying an additional 218 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in ONEOK during the fourth quarter valued at about $1,731,000. Callan Family Office LLC purchased a new stake in ONEOK during the fourth quarter valued at about $646,000. Candriam S.C.A. boosted its holdings in shares of ONEOK by 3.7% during the fourth quarter. Candriam S.C.A. now owns 54,778 shares of the utilities provider’s stock worth $5,500,000 after purchasing an additional 1,929 shares during the period. Finally, Chung Wu Investment Group LLC purchased a new stake in shares of ONEOK during the fourth quarter worth about $1,684,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OKE has been the subject of a number of analyst reports. Scotiabank dropped their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Citigroup initiated coverage on shares of ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company. Barclays dropped their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Truist Financial increased their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Seven research 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $103.31.

ONEOK Price Performance

Shares of NYSE OKE opened at $89.59 on Friday. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07. The company has a 50 day simple moving average of $100.00 and a two-hundred day simple moving average of $99.29. The company has a market capitalization of $55.93 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last announced 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 net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. Analysts expect that ONEOK, Inc. will post 5.07 EPS 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 of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.60%. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

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.