ONEOK, Inc. (NYSE:OKE) Stock Position Lifted by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 31.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,824 shares of the utilities provider’s stock after purchasing an additional 5,697 shares during the period. Integrated Wealth Concepts LLC’s holdings in ONEOK were worth $2,171,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of ONEOK by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in ONEOK by 3.5% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock valued at $554,158,000 after acquiring an additional 232,043 shares in the last quarter. Janus Henderson Group PLC raised its stake in ONEOK by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after acquiring an additional 11,189 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in ONEOK by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock valued at $272,377,000 after acquiring an additional 132,326 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after acquiring an additional 3,197,121 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on OKE shares. UBS Group lifted their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $103.00 to $111.00 in a research report on Monday, September 16th. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Truist Financial lifted their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, Wells Fargo & Company lifted their price target on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $101.00.

ONEOK Trading Down 1.1 %

Shares of OKE opened at $108.94 on Friday. ONEOK, Inc. has a 12-month low of $65.49 and a 12-month 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. The firm has a market capitalization of $63.64 billion, a price-to-earnings ratio of 22.79, a P/E/G ratio of 5.59 and a beta of 1.69. The stock’s 50-day moving average price is $102.06 and its 200 day moving average price is $90.78.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the firm earned $0.99 earnings per share. As a group, research analysts predict that ONEOK, Inc. will post 5.08 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.64%. ONEOK’s payout ratio is presently 82.85%.

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.