Martel Wealth Advisors Inc Invests $510,000 in ONEOK, Inc. (NYSE:OKE)

Martel Wealth Advisors Inc bought a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,078 shares of the utilities provider's stock, valued at approximately $510,000.

Several other large investors also recently bought and sold shares of OKE. Astoria Portfolio Advisors LLC. increased its position in ONEOK by 4.1% during 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. Morton Capital Management LLC CA raised its position in ONEOK by 1.4% in the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider's stock valued at $734,000 after purchasing an additional 104 shares during the period. HM Payson & Co. lifted its stake in shares of ONEOK by 6.3% in the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider's stock valued at $161,000 after purchasing an additional 105 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of ONEOK by 4.7% during the 4th quarter. Ritholtz Wealth Management now owns 2,363 shares of the utilities provider's stock worth $237,000 after purchasing an additional 106 shares during the period. Finally, Claro Advisors LLC increased its position in shares of ONEOK by 1.6% during the 3rd quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider's stock worth $650,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on OKE shares. Royal Bank of Canada increased their price objective on ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 16th. Truist Financial lifted their price objective on ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research note on Tuesday, December 3rd. Bank of America began coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a "buy" rating and a $105.00 target price on the stock. Scotiabank started coverage on shares of ONEOK in a report on Friday, January 10th. They set a "sector outperform" rating and a $109.00 price target for the company. Finally, Wells Fargo & Company lowered shares of ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 price objective on the stock. in a report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $102.92.

ONEOK Price Performance

Shares of OKE traded up $0.88 during trading hours on Tuesday, reaching $109.84. The company had a trading volume of 3,287,021 shares, compared to its average volume of 2,838,433. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07. The firm has a 50 day simple moving average of $106.17 and a 200-day simple moving average of $96.02. The company has a market capitalization of $64.17 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 4.66 and a beta of 1.70.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion during 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 previous year, the business earned $0.99 earnings per share. Research analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current year.

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.