ONEOK, Inc. (NYSE:OKE) Shares Purchased by NBW Capital LLC

NBW Capital LLC increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 32.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,010 shares of the utilities provider’s stock after acquiring an additional 1,230 shares during the quarter. NBW Capital LLC’s holdings in ONEOK were worth $503,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Reaves W H & Co. Inc. grew its stake in shares of ONEOK by 1,064.2% during the fourth quarter. Reaves W H & Co. Inc. now owns 294,624 shares of the utilities provider’s stock worth $29,580,000 after purchasing an additional 269,317 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in ONEOK by 10.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 139,402 shares of the utilities provider’s stock valued at $13,996,000 after acquiring an additional 13,726 shares in the last quarter. Schechter Investment Advisors LLC boosted its stake in ONEOK by 2.9% in the fourth quarter. Schechter Investment Advisors LLC now owns 8,604 shares of the utilities provider’s stock valued at $864,000 after acquiring an additional 241 shares in the last quarter. Meridian Wealth Management LLC boosted its stake in ONEOK by 5.3% in the fourth quarter. Meridian Wealth Management LLC now owns 8,328 shares of the utilities provider’s stock valued at $836,000 after acquiring an additional 420 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its stake in ONEOK by 9.5% in the fourth quarter. Fidelis Capital Partners LLC now owns 3,421 shares of the utilities provider’s stock valued at $334,000 after acquiring an additional 297 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the subject of several research analyst reports. Truist Financial upped their price objective 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. UBS Group upped their price objective 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. Wells Fargo & Company decreased their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. 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 initiated coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price for the company. Seven 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.15.

ONEOK Trading Down 3.8 %

NYSE OKE opened at $96.57 on Tuesday. The stock has a market capitalization of $60.29 billion, a P/E ratio of 20.20, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $75.69 and a 52-week high of $118.07. The firm has a 50-day moving average price of $100.83 and a 200 day moving average price of $99.35. 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 posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Equities research analysts expect that ONEOK, Inc. will post 5.07 EPS 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. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.27%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio is currently 79.69%.

ONEOK 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.