Ashton Thomas Private Wealth LLC Acquires New Shares in ONEOK, Inc. (NYSE:OKE)

Ashton Thomas Private Wealth LLC acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,238 shares of the utilities provider's stock, valued at approximately $1,731,000.

Several other large investors have also recently made changes to their positions in the company. Kieckhefer Group LLC purchased a new stake in shares of ONEOK during the 4th quarter worth approximately $30,000. Canton Hathaway LLC bought a new position in shares of ONEOK in the 4th quarter valued at about $40,000. Access Investment Management LLC purchased a new position in ONEOK in the third quarter worth about $37,000. J.Safra Asset Management Corp bought a new stake in ONEOK during the fourth quarter worth approximately $48,000. Finally, Versant Capital Management Inc lifted its stake in shares of ONEOK by 98.1% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider's stock valued at $53,000 after purchasing an additional 260 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

OKE has been the topic of several recent research reports. Barclays decreased their price target on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a report on Friday. Wells Fargo & Company dropped their price target 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. 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 research note on Tuesday, December 3rd. Citigroup assumed coverage on shares of ONEOK in a research report on Friday, February 28th. They issued a "buy" rating and a $110.00 price objective for the company. Finally, Scotiabank reduced their price objective on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 6th. 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 a consensus rating of "Moderate Buy" and an average target price of $103.31.

Remove Ads

ONEOK Stock Performance

OKE stock traded up $1.00 during trading on Tuesday, hitting $92.42. 963,040 shares of the company traded hands, compared to its average volume of 4,055,999. The stock's 50-day simple moving average is $99.81 and its 200 day simple moving average is $99.49. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The company has a market cap of $57.70 billion, a PE ratio of 19.33, 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 - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $6.18 billion. On average, equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio is currently 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.