ONEOK, Inc. (NYSE:OKE) Stock Holdings Boosted by Sowell Financial Services LLC

Sowell Financial Services LLC increased its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 91,059 shares of the utilities provider's stock after acquiring an additional 4,818 shares during the quarter. Sowell Financial Services LLC's holdings in ONEOK were worth $9,142,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new position in shares of ONEOK in the 4th quarter worth about $51,000. Amundi increased its position in ONEOK by 5.3% during the 4th quarter. Amundi now owns 4,105,596 shares of the utilities provider's stock worth $422,261,000 after purchasing an additional 207,324 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in ONEOK by 3.1% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 7,929 shares of the utilities provider's stock valued at $796,000 after buying an additional 240 shares during the period. Rialto Wealth Management LLC acquired a new position in ONEOK during the fourth quarter valued at approximately $59,000. Finally, Lifeworks Advisors LLC lifted its position in ONEOK by 25.9% during the fourth quarter. Lifeworks Advisors LLC now owns 4,872 shares of the utilities provider's stock valued at $489,000 after buying an additional 1,002 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Up 2.1 %

Shares of NYSE:OKE traded up $1.89 during midday trading on Monday, reaching $91.46. The company had a trading volume of 5,994,733 shares, compared to its average volume of 4,128,707. 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 stock's fifty day moving average price is $99.81 and its 200-day moving average price is $99.49. The stock has a market capitalization of $57.10 billion, a P/E ratio of 19.13, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07.

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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 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 business had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. Equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.50%. ONEOK's payout ratio is presently 79.69%.

Analysts Set New Price Targets

A number of brokerages have weighed in on OKE. 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 research report on Monday, February 10th. 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. Wells Fargo & Company reduced their price target on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Truist Financial lifted 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. Finally, Barclays reduced their price target on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research report on Friday. Seven 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's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $103.31.

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.