Mission Wealth Management LP Reduces Position in ONEOK, Inc. (NYSE:OKE)

Mission Wealth Management LP decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,956 shares of the utilities provider’s stock after selling 573 shares during the period. Mission Wealth Management LP’s holdings in ONEOK were worth $1,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kieckhefer Group LLC purchased a new stake in ONEOK in the fourth quarter worth about $30,000. Access Investment Management LLC bought a new position in shares of ONEOK during the 3rd quarter valued at approximately $37,000. Canton Hathaway LLC purchased a new stake in ONEOK in the 4th quarter worth approximately $40,000. Versant Capital Management Inc raised its stake in ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 260 shares during the period. Finally, FSA Wealth Management LLC purchased a new position in ONEOK during the third quarter valued at approximately $57,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Down 3.8 %

Shares of NYSE OKE opened at $96.57 on Tuesday. 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 50-day simple moving average of $100.83 and a two-hundred day simple moving average of $99.35. ONEOK, Inc. has a 1 year low of $75.69 and a 1 year high of $118.07. The company has a market cap of $60.29 billion, a P/E ratio of 20.20, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion for 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%. Research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.27%. ONEOK’s dividend payout ratio is presently 79.69%.

Analyst Ratings Changes

Several brokerages have recently commented on OKE. Citigroup started coverage on shares of ONEOK in a research report on Friday. They set a “buy” rating and a $110.00 price objective on the stock. Truist Financial increased their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Wells Fargo & Company lowered their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.15.

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.