ONEOK, Inc. (NYSE:OKE) Stake Boosted by OneAscent Financial Services LLC

OneAscent Financial Services LLC increased its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 116.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,517 shares of the utilities provider's stock after buying an additional 4,044 shares during the period. OneAscent Financial Services LLC's holdings in ONEOK were worth $755,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC bought a new position in ONEOK during the 4th quarter worth approximately $30,000. Canton Hathaway LLC acquired a new position in ONEOK in the fourth quarter worth $40,000. J.Safra Asset Management Corp bought a new stake in ONEOK during the fourth quarter valued at $48,000. VSM Wealth Advisory LLC acquired a new stake in shares of ONEOK during the fourth quarter worth $50,000. Finally, OFI Invest Asset Management bought a new position in shares of ONEOK in the 4th quarter worth about $51,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Price Performance

ONEOK stock traded up $1.07 during trading hours on Tuesday, hitting $81.98. 2,206,129 shares of the company traded hands, compared to its average volume of 3,110,379. The firm's 50-day simple moving average is $96.69 and its two-hundred day simple moving average is $100.21. The firm has a market cap of $51.19 billion, a P/E ratio of 17.18, a P/E/G ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year 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.

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ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating 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 net margin of 14.05% and a return on equity of 16.84%. As a group, analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 5.03%. This is a boost from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio (DPR) is currently 79.69%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a research report on Monday, February 10th. Morgan Stanley increased their price target on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Scotiabank reduced their price objective on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company 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 note on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price target on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and a consensus price target of $105.00.

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.