Parallel Advisors LLC Raises Holdings in ONEOK, Inc. (NYSE:OKE)

Parallel Advisors LLC increased its holdings in ONEOK, Inc. (NYSE:OKE) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 11,163 shares of the utilities provider’s stock after acquiring an additional 248 shares during the period. Parallel Advisors LLC’s holdings in ONEOK were worth $1,121,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Astoria Portfolio Advisors LLC. grew its position in ONEOK by 4.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after acquiring an additional 96 shares during the period. McAdam LLC grew its position in ONEOK by 3.8% in the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after acquiring an additional 96 shares during the period. Alliance Wealth Advisors LLC boosted its position in shares of ONEOK by 0.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after buying an additional 100 shares during the period. Mutual Advisors LLC boosted its position in shares of ONEOK by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after buying an additional 103 shares during the period. Finally, Morton Capital Management LLC CA boosted its position in shares of ONEOK by 1.4% during the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after buying an additional 104 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Up 2.2 %

ONEOK stock opened at $100.12 on Thursday. ONEOK, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a market cap of $62.51 billion, a PE ratio of 20.95, a P/E/G ratio of 3.77 and a beta of 1.70. The stock’s fifty day moving average is $99.03 and its two-hundred day moving average is $99.75.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. On average, sell-side analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal 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 paid a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.11%. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

Analysts Set New Price Targets

Several research analysts have recently commented on OKE shares. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Monday, February 10th. Scotiabank lowered their price target 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. Truist Financial raised their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Barclays lowered their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Finally, Wells Fargo & Company lowered their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus price target of $103.31.

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.