Sequoia Financial Advisors LLC Purchases 7,013 Shares of ONEOK, Inc. (NYSE:OKE)

Sequoia Financial Advisors LLC lifted its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 211,194 shares of the utilities provider's stock after purchasing an additional 7,013 shares during the period. Sequoia Financial Advisors LLC's holdings in ONEOK were worth $21,204,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc grew its stake in ONEOK by 76.9% in the 3rd quarter. Atria Investments Inc now owns 23,561 shares of the utilities provider's stock valued at $2,147,000 after purchasing an additional 10,240 shares during the period. Sigma Planning Corp grew its position in ONEOK by 2.8% during the third quarter. Sigma Planning Corp now owns 13,095 shares of the utilities provider's stock valued at $1,193,000 after buying an additional 352 shares during the period. Crossmark Global Holdings Inc. increased its holdings in ONEOK by 3.2% during the third quarter. Crossmark Global Holdings Inc. now owns 24,806 shares of the utilities provider's stock worth $2,260,000 after buying an additional 772 shares during the last quarter. Los Angeles Capital Management LLC raised its position in ONEOK by 34.2% in the third quarter. Los Angeles Capital Management LLC now owns 37,258 shares of the utilities provider's stock worth $3,395,000 after acquiring an additional 9,497 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in ONEOK in the third quarter valued at about $115,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a report on Monday, February 10th. Truist Financial boosted their target price on ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research note on Tuesday, December 3rd. UBS Group lifted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a report on Friday, November 15th. US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price objective on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $103.31.

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ONEOK Price Performance

Shares of NYSE:OKE opened at $92.63 on Wednesday. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market capitalization of $57.83 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 3.77 and a beta of 1.70. The company's fifty day moving average price is $99.66 and its 200-day moving average price is $99.52.

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, topping the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared 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. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.45%. ONEOK's dividend payout ratio (DPR) is 79.69%.

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.

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