Proficio Capital Partners LLC Purchases Shares of 258,283 ONEOK, Inc. (NYSE:OKE)

Proficio Capital Partners LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 258,283 shares of the utilities provider's stock, valued at approximately $258,000.

A number of other hedge funds also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. boosted its holdings in shares of ONEOK by 1.6% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 34,918 shares of the utilities provider's stock valued at $3,506,000 after purchasing an additional 557 shares during the last quarter. Kovack Advisors Inc. boosted its holdings in shares of ONEOK by 20.1% in the 4th quarter. Kovack Advisors Inc. now owns 8,042 shares of the utilities provider's stock valued at $807,000 after purchasing an additional 1,347 shares during the last quarter. New York Life Investment Management LLC lifted its holdings in shares of ONEOK by 0.3% during the 4th quarter. New York Life Investment Management LLC now owns 86,778 shares of the utilities provider's stock valued at $8,713,000 after acquiring an additional 267 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in shares of ONEOK during the 4th quarter valued at $216,000. Finally, Checchi Capital Advisers LLC lifted its holdings in shares of ONEOK by 3.1% during the 4th quarter. Checchi Capital Advisers LLC now owns 9,365 shares of the utilities provider's stock valued at $940,000 after acquiring an additional 280 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Scotiabank reduced their target price on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company reduced their target price on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Barclays reduced their target price on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. Truist Financial lifted their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a report on Tuesday, December 3rd. Finally, Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $103.31.

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ONEOK Stock Performance

Shares of ONEOK stock opened at $92.63 on Wednesday. The firm has a market cap of $57.83 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The firm's 50-day simple moving average is $99.66 and its 200-day simple moving average is $99.52. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last issued its 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. 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%. Equities 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. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio is 79.69%.

ONEOK 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.

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