Axxcess Wealth Management LLC Raises Holdings in ONEOK, Inc. (NYSE:OKE)

Axxcess Wealth Management LLC increased its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 19.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,424 shares of the utilities provider's stock after purchasing an additional 3,353 shares during the period. Axxcess Wealth Management LLC's holdings in ONEOK were worth $2,050,000 at the end of the most recent reporting period.

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

ONEOK Trading Up 3.0 %

Shares of OKE traded up $3.00 during mid-day trading on Monday, reaching $102.34. 3,284,724 shares of the company's stock traded hands, compared to its average volume of 2,861,519. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month 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 stock has a market cap of $63.89 billion, a P/E ratio of 21.41, a P/E/G ratio of 3.77 and a beta of 1.70. The stock's 50-day moving average is $98.94 and its two-hundred day moving average is $99.92.

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ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Research analysts forecast 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 paid a $1.03 dividend. This is an increase from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date was Monday, February 3rd. ONEOK's dividend payout ratio is currently 79.69%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Scotiabank decreased their target price on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a research report on Thursday, March 6th. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Wells Fargo & Company reduced 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. Truist Financial upped their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research note on Tuesday, December 3rd. Finally, Barclays dropped 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 note on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.31.

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.