ONEOK, Inc. (NYSE:OKE) Shares Acquired by Independent Advisor Alliance

Independent Advisor Alliance increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 12.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,467 shares of the utilities provider’s stock after purchasing an additional 2,216 shares during the quarter. Independent Advisor Alliance’s holdings in ONEOK were worth $2,055,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Atria Investments Inc raised its position in shares of ONEOK by 76.9% during the 3rd quarter. Atria Investments Inc now owns 23,561 shares of the utilities provider’s stock worth $2,147,000 after purchasing an additional 10,240 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of ONEOK by 1.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,408,137 shares of the utilities provider’s stock valued at $128,324,000 after acquiring an additional 26,420 shares during the last quarter. Aptus Capital Advisors LLC increased its position in ONEOK by 13.2% during the 3rd quarter. Aptus Capital Advisors LLC now owns 4,433 shares of the utilities provider’s stock worth $404,000 after purchasing an additional 518 shares in the last quarter. Empower Advisory Group LLC increased its position in ONEOK by 18.0% during the 3rd quarter. Empower Advisory Group LLC now owns 3,519 shares of the utilities provider’s stock worth $321,000 after purchasing an additional 536 shares in the last quarter. Finally, Haverford Trust Co raised its stake in ONEOK by 1.2% in the 3rd quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock valued at $917,000 after purchasing an additional 117 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the topic of several analyst reports. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Scotiabank lowered their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Citigroup began coverage on ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 price target on the stock. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a report on Monday, February 10th. Finally, Truist Financial upped their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. 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 stock. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Trading Up 0.5 %

NYSE OKE opened at $93.40 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The company’s 50 day moving average price is $99.34 and its 200 day moving average price is $99.43. The firm has a market capitalization of $58.31 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. On average, sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently announced 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 an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.41%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

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.