Oxler Private Wealth LLC Increases Position in ONEOK, Inc. (NYSE:OKE)

Oxler Private Wealth LLC lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 0.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,156 shares of the utilities provider’s stock after buying an additional 427 shares during the quarter. ONEOK makes up 1.6% of Oxler Private Wealth LLC’s holdings, making the stock its 19th largest holding. Oxler Private Wealth LLC’s holdings in ONEOK were worth $4,734,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of OKE. AQR Capital Management LLC boosted its stake in shares of ONEOK by 0.4% in the second quarter. AQR Capital Management LLC now owns 93,486 shares of the utilities provider’s stock worth $7,566,000 after acquiring an additional 383 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in ONEOK by 2.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 44,788 shares of the utilities provider’s stock valued at $3,652,000 after buying an additional 1,119 shares in the last quarter. Dana Investment Advisors Inc. grew its holdings in ONEOK by 3.8% during the 2nd quarter. Dana Investment Advisors Inc. now owns 3,868 shares of the utilities provider’s stock valued at $315,000 after buying an additional 143 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of ONEOK in the second quarter worth $8,828,000. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of ONEOK by 11.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 3,830 shares of the utilities provider’s stock worth $349,000 after acquiring an additional 399 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on OKE. Scotiabank initiated coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target on the stock. UBS Group increased their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Truist Financial lifted their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Finally, US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $102.92.

ONEOK Price Performance

ONEOK stock opened at $96.95 on Friday. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a 50-day moving average price of $104.92 and a 200-day moving average price of $96.97. The firm has a market capitalization of $56.64 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 3.81 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced 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 firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the previous year, the business earned $0.99 EPS. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be paid a dividend of $1.03 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is currently 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.