Patriot Financial Group Insurance Agency LLC Invests $212,000 in ONEOK, Inc. (NYSE:OKE)

Patriot Financial Group Insurance Agency LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,116 shares of the utilities provider’s stock, valued at approximately $212,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Matrix Trust Co acquired a new stake in shares of ONEOK in the 3rd quarter valued at approximately $29,000. Kieckhefer Group LLC acquired a new stake in ONEOK in the fourth quarter valued at approximately $30,000. Access Investment Management LLC bought a new stake in shares of ONEOK during the third quarter worth $37,000. Values First Advisors Inc. acquired a new position in shares of ONEOK during the third quarter worth $44,000. Finally, Fortitude Family Office LLC lifted its stake in shares of ONEOK by 37.4% in the 3rd 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. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the topic of a number of research reports. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Scotiabank began coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. Barclays boosted their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Finally, UBS Group raised their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.92.

ONEOK Stock Performance

Shares of OKE opened at $100.38 on Thursday. The firm’s fifty day simple moving average is $105.51 and its two-hundred day simple moving average is $96.93. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07. 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 market capitalization of $58.64 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the business earned $0.99 EPS. As a group, analysts predict that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a $1.03 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.10%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 82.85%.

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.