Advisory Alpha LLC Buys 266 Shares of ONEOK, Inc. (NYSE:OKE)

Advisory Alpha LLC raised its stake in ONEOK, Inc. (NYSE:OKE) by 5.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,903 shares of the utilities provider’s stock after purchasing an additional 266 shares during the quarter. Advisory Alpha LLC’s holdings in ONEOK were worth $492,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Kieckhefer Group LLC purchased a new stake in ONEOK during the fourth quarter valued at about $30,000. Matrix Trust Co purchased a new position in shares of ONEOK during the 3rd quarter valued at about $29,000. Access Investment Management LLC bought a new stake in ONEOK in the 3rd quarter worth approximately $37,000. Values First Advisors Inc. purchased a new stake in ONEOK in the third quarter worth approximately $44,000. Finally, Fortitude Family Office LLC grew its position in ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 3.2 %

OKE opened at $106.28 on Thursday. The stock has a market cap of $62.09 billion, a PE ratio of 22.23, a PEG ratio of 4.16 and a beta of 1.70. The business has a 50 day moving average of $106.21 and a 200-day moving average of $96.21. ONEOK, Inc. has a 52 week low of $67.05 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.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter last year, the firm posted $0.99 EPS. Equities research analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.88%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Analyst Ratings Changes

Several research firms recently commented on OKE. Bank of America assumed coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price on the stock. UBS Group raised their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Truist Financial increased their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research note on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.

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.