Collaborative Wealth Managment Inc. Acquires Shares of 3,195 ONEOK, Inc. (NYSE:OKE)

Collaborative Wealth Managment Inc. bought a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,195 shares of the utilities provider's stock, valued at approximately $321,000.

Several other institutional investors and hedge funds also recently made changes to their positions in OKE. Astoria Portfolio Advisors LLC. boosted its position in ONEOK by 4.1% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider's stock valued at $260,000 after buying an additional 96 shares during the period. McAdam LLC boosted its position in ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider's stock valued at $262,000 after buying an additional 96 shares during the period. Alliance Wealth Advisors LLC boosted its position in ONEOK by 0.8% during 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 period. Mutual Advisors LLC boosted its position in ONEOK by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider's stock valued at $965,000 after buying an additional 103 shares during the period. Finally, Morton Capital Management LLC CA boosted its position in ONEOK by 1.4% during the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider's stock valued at $734,000 after buying an additional 104 shares during the period. Institutional investors own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Truist Financial increased their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research report on Tuesday, December 3rd. Barclays dropped their price target 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. US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price for the company in a research report on Monday, February 10th. Finally, Citigroup initiated coverage on shares of ONEOK in a research report on Friday, February 28th. They issued a "buy" rating and a $110.00 target price for the company. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $103.31.

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ONEOK Stock Up 0.7 %

NYSE OKE traded up $0.70 during trading hours on Thursday, reaching $100.75. 2,753,320 shares of the company's stock traded hands, compared to its average volume of 2,831,650. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. The firm has a market cap of $62.90 billion, a PE ratio of 21.08, a PEG ratio of 3.77 and a beta of 1.70. The firm has a 50-day simple moving average of $99.03 and a 200 day simple moving average of $99.75. 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 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. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion during the quarter, compared to analysts' expectations of $6.18 billion. Sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS 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 paid a dividend of $1.03 per share. This is a positive change from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date was Monday, February 3rd. ONEOK's dividend payout ratio (DPR) 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.