Atlas Wealth LLC Makes New $270,000 Investment in ONEOK, Inc. (NYSE:OKE)

Atlas Wealth LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,689 shares of the utilities provider's stock, valued at approximately $270,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Astoria Portfolio Advisors LLC. grew its stake in shares of ONEOK by 4.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider's stock worth $260,000 after purchasing an additional 96 shares during the last quarter. McAdam LLC lifted its holdings in ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider's stock worth $262,000 after buying an additional 96 shares during the period. Alliance Wealth Advisors LLC grew its position in shares of ONEOK by 0.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider's stock valued at $1,262,000 after buying an additional 100 shares during the last quarter. Mutual Advisors LLC raised its position in shares of ONEOK by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider's stock worth $965,000 after acquiring an additional 103 shares during the last quarter. Finally, Morton Capital Management LLC CA lifted its stake in shares of ONEOK by 1.4% in the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider's stock worth $734,000 after acquiring an additional 104 shares during the period. Institutional investors own 69.13% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Truist Financial raised their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a report on Tuesday, December 3rd. US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Scotiabank cut their price target 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. Barclays dropped their price objective on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. Finally, Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price for the company in a research note on Monday, February 10th. Seven investment 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $105.00.

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ONEOK Stock Up 0.1 %

OKE traded up $0.12 during trading on Tuesday, hitting $102.42. 2,672,797 shares of the company's stock were exchanged, compared to its average volume of 2,860,122. The stock has a market cap of $63.94 billion, a P/E ratio of 21.43, a PEG ratio of 3.77 and a beta of 1.70. The business's 50 day moving average is $98.84 and its two-hundred day moving average is $100.07. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. As a group, equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed 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 4.02%. This is an increase from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK's payout ratio is currently 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.