Callan Family Office LLC Invests $646,000 in ONEOK, Inc. (NYSE:OKE)

Callan Family Office LLC bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,432 shares of the utilities provider’s stock, valued at approximately $646,000.

Several other institutional investors also recently bought and sold shares of the stock. Kieckhefer Group LLC purchased a new stake in shares of ONEOK during the fourth quarter worth about $30,000. Canton Hathaway LLC bought a new position in ONEOK during the 4th quarter valued at approximately $40,000. Access Investment Management LLC purchased a new stake in ONEOK in the 3rd quarter worth approximately $37,000. J.Safra Asset Management Corp bought a new stake in shares of ONEOK in the 4th quarter worth approximately $48,000. Finally, Versant Capital Management Inc increased its stake in shares of ONEOK by 98.1% during the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after buying an additional 260 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on OKE. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Citigroup initiated coverage on shares of ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 target price for the company. Wells Fargo & Company reduced their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Finally, UBS Group upped their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average price target of $103.31.

ONEOK Price Performance

OKE opened at $89.59 on Monday. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The stock has a 50-day moving average price of $100.00 and a 200-day moving average price of $99.46. The firm has a market cap of $55.93 billion, a PE ratio of 18.74, a P/E/G 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 (NYSE:OKE) last issued its 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 for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal 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 issued a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date was Monday, February 3rd. 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.