GWN Securities Inc. Takes $439,000 Position in ONEOK, Inc. (NYSE:OKE)

GWN Securities Inc. bought a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,257 shares of the utilities provider's stock, valued at approximately $439,000.

A number of other large investors also recently modified their holdings of the company. Kieckhefer Group LLC acquired a new position in shares of ONEOK during the fourth quarter valued at about $30,000. Canton Hathaway LLC bought a new stake in ONEOK during the 4th quarter worth approximately $40,000. J.Safra Asset Management Corp bought a new stake in ONEOK during the 4th quarter worth approximately $48,000. OFI Invest Asset Management purchased a new stake in shares of ONEOK in the fourth quarter worth approximately $51,000. Finally, Versant Capital Management Inc lifted its holdings in shares of ONEOK by 98.1% in the fourth 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 in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OKE has been the subject of a number of analyst reports. Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target for the company in a research report on Monday, February 10th. Wells Fargo & Company dropped 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. Barclays reduced their price objective on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research report on Friday, March 7th. Scotiabank dropped their target price on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a research report on Thursday, March 6th. Finally, Truist Financial upped their target price on ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a report on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.31.

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ONEOK Stock Performance

Shares of OKE traded up $0.70 during trading hours on Thursday, hitting $100.75. The company's stock had a trading volume of 2,738,724 shares, compared to its average volume of 4,027,863. The business has a 50 day simple moving average of $99.03 and a two-hundred day simple moving average of $99.75. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market cap of $62.90 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share 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 during 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 business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK's previous quarterly dividend of $0.99. ONEOK's payout ratio 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.