Independent Advisor Alliance Grows Holdings in ONEOK, Inc. (NYSE:OKE)

Independent Advisor Alliance raised its position in ONEOK, Inc. (NYSE:OKE) by 12.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,467 shares of the utilities provider’s stock after buying an additional 2,216 shares during the period. Independent Advisor Alliance’s holdings in ONEOK were worth $2,055,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Altiora Financial Group LLC purchased a new position in shares of ONEOK during the 4th quarter valued at approximately $201,000. Johnson Investment Counsel Inc. boosted its stake in ONEOK by 15.6% during the 4th quarter. Johnson Investment Counsel Inc. now owns 15,659 shares of the utilities provider’s stock valued at $1,572,000 after acquiring an additional 2,119 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in ONEOK by 1.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 85,970 shares of the utilities provider’s stock worth $8,632,000 after acquiring an additional 1,062 shares in the last quarter. Enterprise Financial Services Corp bought a new stake in shares of ONEOK in the 4th quarter worth about $215,000. Finally, Sowell Financial Services LLC raised its stake in shares of ONEOK by 5.6% in the 4th quarter. Sowell Financial Services LLC now owns 91,059 shares of the utilities provider’s stock valued at $9,142,000 after purchasing an additional 4,818 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on OKE shares. Citigroup began coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price target for the company. Scotiabank decreased their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Monday, February 10th. 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 equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Stock Up 0.5 %

OKE stock opened at $93.40 on Friday. 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’s 50-day simple moving average is $99.34 and its 200 day simple moving average is $99.43. The stock 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. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07.

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

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is 79.69%.

ONEOK 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.