Alpine Woods Capital Investors LLC Increases Holdings in ONEOK, Inc. (NYSE:OKE)

Alpine Woods Capital Investors LLC grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 15.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,260 shares of the utilities provider’s stock after purchasing an additional 5,987 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in ONEOK were worth $4,544,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC increased its position in shares of 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 purchasing an additional 21,847 shares during the last quarter. Kingswood Wealth Advisors LLC increased its position 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 valued at $1,456,000 after purchasing an additional 5,321 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its position in shares of ONEOK by 222.3% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 16,181 shares of the utilities provider’s stock valued at $1,475,000 after purchasing an additional 11,160 shares during the last quarter. Mizuho Securities USA LLC increased its position in shares of ONEOK by 130.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 103,648 shares of the utilities provider’s stock valued at $9,445,000 after purchasing an additional 58,649 shares during the last quarter. Finally, Simon Quick Advisors LLC bought a new position in shares of ONEOK during the 4th quarter worth $251,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Truist Financial increased their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Citigroup assumed coverage on ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 price target for the company. UBS Group increased their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Wolfe Research upgraded 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. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.31.

ONEOK Stock Performance

Shares of OKE opened at $93.40 on Friday. The company has a market cap of $58.31 billion, a PE ratio of 19.54, 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. The stock has a 50-day moving average price of $99.34 and a 200-day moving average price of $99.43. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07.

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

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.41%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. 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.