Congress Wealth Management LLC DE Boosts Position in ONEOK, Inc. (NYSE:OKE)

Congress Wealth Management LLC DE grew its holdings in ONEOK, Inc. (NYSE:OKE) by 187.5% during the 4th quarter, Holdings Channel reports. The fund owned 8,365 shares of the utilities provider’s stock after purchasing an additional 5,455 shares during the period. Congress Wealth Management LLC DE’s holdings in ONEOK were worth $840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of ONEOK during the 3rd quarter valued at about $990,000. FMR LLC raised its position in ONEOK by 11.7% during the third quarter. FMR LLC now owns 1,171,917 shares of the utilities provider’s stock valued at $106,797,000 after acquiring an additional 122,362 shares in the last quarter. Avestar Capital LLC acquired a new position in ONEOK in the third quarter valued at approximately $216,000. Townsquare Capital LLC lifted its holdings in ONEOK by 6.7% in the third quarter. Townsquare Capital LLC now owns 107,342 shares of the utilities provider’s stock valued at $9,782,000 after acquiring an additional 6,767 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of ONEOK during the 3rd quarter worth approximately $47,957,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 2.5 %

NYSE OKE opened at $98.76 on Friday. The business has a fifty day moving average price of $98.53 and a 200 day moving average price of $100.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a market cap of $61.66 billion, a P/E ratio of 20.66, a P/E/G 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.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s payout ratio is currently 79.69%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Truist Financial increased their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Wells Fargo & Company lowered their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Monday, February 10th. Scotiabank lowered their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Finally, Morgan Stanley boosted their price objective on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $105.00.

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.