Collaborative Wealth Managment Inc. Purchases Shares of 3,195 ONEOK, Inc. (NYSE:OKE)

Collaborative Wealth Managment Inc. purchased a new stake in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 3,195 shares of the utilities provider’s stock, valued at approximately $321,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Aptus Capital Advisors LLC increased its holdings in shares of ONEOK by 13.2% in the 3rd quarter. Aptus Capital Advisors LLC now owns 4,433 shares of the utilities provider’s stock worth $404,000 after buying an additional 518 shares during the last quarter. Empower Advisory Group LLC increased its holdings in shares of ONEOK by 18.0% in the 3rd quarter. Empower Advisory Group LLC now owns 3,519 shares of the utilities provider’s stock worth $321,000 after buying an additional 536 shares during the last quarter. Pinnacle Financial Partners Inc bought a new stake in shares of ONEOK in the 3rd quarter worth about $215,000. Oppenheimer Asset Management Inc. increased its holdings in shares of ONEOK by 7.5% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 34,361 shares of the utilities provider’s stock worth $3,131,000 after buying an additional 2,408 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of ONEOK by 0.8% in the 3rd quarter. KBC Group NV now owns 45,383 shares of the utilities provider’s stock worth $4,136,000 after buying an additional 376 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OKE. Truist Financial boosted 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. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Citigroup began coverage on shares of ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 price target on the stock. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Monday, February 10th. Finally, 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 report on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.31.

ONEOK Price Performance

ONEOK stock opened at $96.52 on Friday. The stock has a market cap of $60.26 billion, a price-to-earnings 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 current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The firm has a 50-day moving average of $99.21 and a two-hundred day moving average of $99.57.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $6.18 billion. On average, research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is presently 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.