5,249 Shares in ONEOK, Inc. (NYSE:OKE) Acquired by Enhancing Capital LLC

Enhancing Capital LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 5,249 shares of the utilities provider’s stock, valued at approximately $527,000.

Other institutional investors also recently made changes to their positions in the company. KBC Group NV increased its stake in ONEOK by 0.8% during the third quarter. KBC Group NV now owns 45,383 shares of the utilities provider’s stock worth $4,136,000 after acquiring an additional 376 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in ONEOK by 5.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 8,365 shares of the utilities provider’s stock worth $762,000 after purchasing an additional 455 shares in the last quarter. Empowered Funds LLC raised its holdings in ONEOK by 8.8% in the third quarter. Empowered Funds LLC now owns 9,884 shares of the utilities provider’s stock valued at $901,000 after buying an additional 797 shares during the period. Natixis Advisors LLC lifted its position in ONEOK by 5.1% during the third quarter. Natixis Advisors LLC now owns 446,661 shares of the utilities provider’s stock valued at $40,704,000 after buying an additional 21,704 shares in the last quarter. Finally, Claro Advisors LLC grew its stake in ONEOK by 1.6% during the third quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock worth $650,000 after buying an additional 115 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of ONEOK stock opened at $98.41 on Tuesday. 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 1 year low of $76.23 and a 1 year high of $118.07. The firm’s 50-day simple moving average is $99.15 and its 200-day simple moving average is $99.70. The firm has a market cap of $61.44 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.19%. ONEOK’s payout ratio is presently 79.69%.

Wall Street Analysts Forecast Growth

OKE has been the topic of several recent research reports. Citigroup began coverage on shares of ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 target price on the stock. Barclays decreased their target price 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. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Truist Financial increased their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Finally, US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. 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 company’s stock. Based on data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $103.31.

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.