3,195 Shares in ONEOK, Inc. (NYSE:OKE) Acquired by Collaborative Wealth Managment Inc.

Collaborative Wealth Managment Inc. acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 3,195 shares of the utilities provider’s stock, valued at approximately $321,000.

Several other large investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of ONEOK by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after acquiring an additional 934,007 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after acquiring an additional 138,430 shares in the last quarter. Amundi raised its stake in shares of ONEOK by 5.3% during the 4th quarter. Amundi now owns 4,105,596 shares of the utilities provider’s stock worth $422,261,000 after acquiring an additional 207,324 shares in the last quarter. Janus Henderson Group PLC increased its stake in ONEOK by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after purchasing an additional 11,189 shares in the last quarter. Finally, Chickasaw Capital Management LLC increased its stake in ONEOK by 15.2% during the 4th quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock valued at $200,031,000 after purchasing an additional 263,545 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OKE. Barclays cut their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Truist Financial upped 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. Citigroup began coverage on shares of ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 price target on the stock. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Scotiabank cut their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Stock Performance

Shares of NYSE OKE opened at $96.52 on Friday. The company’s fifty day moving average price is $99.21 and its 200 day moving average price is $99.57. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The company has a market capitalization of $60.26 billion, a PE ratio of 20.19, a price-to-earnings-growth 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 quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. On average, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently declared 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. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.27%. ONEOK’s dividend payout ratio is 79.69%.

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.