BankPlus Wealth Management LLC Invests $477,000 in ONEOK, Inc. (NYSE:OKE)

BankPlus Wealth Management LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 4,750 shares of the utilities provider's stock, valued at approximately $477,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. AQR Capital Management LLC raised its stake in shares of ONEOK by 0.4% during the second quarter. AQR Capital Management LLC now owns 93,486 shares of the utilities provider's stock valued at $7,566,000 after acquiring an additional 383 shares during the last quarter. Creative Planning grew its holdings in ONEOK by 5.0% in the second quarter. Creative Planning now owns 233,564 shares of the utilities provider's stock worth $19,047,000 after purchasing an additional 11,126 shares during the period. NewEdge Advisors LLC grew its holdings in ONEOK by 61.0% in the second quarter. NewEdge Advisors LLC now owns 145,132 shares of the utilities provider's stock worth $11,836,000 after purchasing an additional 54,978 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in ONEOK by 2.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 44,788 shares of the utilities provider's stock worth $3,652,000 after purchasing an additional 1,119 shares during the period. Finally, Sunbelt Securities Inc. grew its holdings in ONEOK by 144.1% in the second quarter. Sunbelt Securities Inc. now owns 7,649 shares of the utilities provider's stock worth $624,000 after purchasing an additional 4,516 shares during the period. Institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

NYSE:OKE traded down $2.92 during mid-day trading on Friday, hitting $96.95. 5,951,904 shares of the stock traded hands, compared to its average volume of 4,016,392. The business's 50-day moving average price is $104.92 and its 200 day moving average price is $96.97. The company has a market cap of $56.64 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 3.81 and a beta of 1.70. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month 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 issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to analysts' expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the prior year, the firm posted $0.99 EPS. On average, analysts expect that ONEOK, Inc. will post 5.09 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.25%. This is a boost from ONEOK's previous quarterly dividend of $0.99. ONEOK's payout ratio is currently 86.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. US Capital Advisors upgraded shares of ONEOK from a "hold" rating to a "moderate buy" rating in a report on Tuesday, November 26th. Mizuho raised shares of ONEOK to a "hold" rating in a research report on Thursday, November 7th. Royal Bank of Canada raised their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 16th. UBS Group lifted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Finally, Bank of America assumed coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a "buy" rating and a $105.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, ONEOK currently has an average rating of "Moderate Buy" and an average target price of $102.92.

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.