Twelve Points Wealth Management LLC Has $2.68 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Twelve Points Wealth Management LLC cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,642 shares of the utilities provider’s stock after selling 453 shares during the period. ONEOK accounts for approximately 0.8% of Twelve Points Wealth Management LLC’s holdings, making the stock its 27th biggest holding. Twelve Points Wealth Management LLC’s holdings in ONEOK were worth $2,675,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Matrix Trust Co acquired a new position in ONEOK during the third quarter valued at approximately $29,000. Kieckhefer Group LLC bought a new stake in shares of ONEOK in the 4th quarter valued at $30,000. Access Investment Management LLC acquired a new stake in ONEOK during the 3rd quarter worth $37,000. Values First Advisors Inc. bought a new position in ONEOK during the third quarter worth about $44,000. Finally, Fortitude Family Office LLC grew its stake in ONEOK by 37.4% in the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of OKE opened at $100.50 on Wednesday. The company’s 50-day moving average is $105.76 and its 200-day moving average is $96.82. 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 $58.71 billion, a PE ratio of 21.03, a PEG ratio of 4.03 and a beta of 1.70. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings data 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). The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the business earned $0.99 earnings per share. Equities analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be paid a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.10%. ONEOK’s payout ratio is 82.85%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OKE. Royal Bank of Canada lifted their price objective on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research report on Wednesday, December 18th. UBS Group boosted their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. Finally, Truist Financial raised their target price 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. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.92.

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.