BankPlus Wealth Management LLC Buys New Stake in ONEOK, Inc. (NYSE:OKE)

BankPlus Wealth Management LLC purchased a new position in ONEOK, Inc. (NYSE:OKEFree Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,750 shares of the utilities provider’s stock, valued at approximately $477,000.

A number of other large investors have also made changes to their positions in the business. Matrix Trust Co purchased a new position in ONEOK during the 3rd quarter worth $29,000. Kieckhefer Group LLC purchased a new stake in shares of ONEOK during the fourth quarter worth about $30,000. Access Investment Management LLC acquired a new position in shares of ONEOK during the third quarter valued at about $37,000. Values First Advisors Inc. purchased a new position in shares of ONEOK in the 3rd quarter valued at approximately $44,000. Finally, Fortitude Family Office LLC boosted its stake in ONEOK by 37.4% in the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 135 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of ONEOK stock opened at $100.38 on Tuesday. The firm has a market cap of $58.64 billion, a PE ratio of 21.00, a P/E/G ratio of 4.03 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $67.05 and a twelve 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 business has a 50-day moving average price of $106.00 and a 200 day moving average price of $96.70.

ONEOK (NYSE:OKEGet Free Report) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the company earned $0.99 earnings per share. Sell-side analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.10%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of research analyst reports. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a report on Wednesday, December 18th. Barclays raised their target price on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. UBS Group lifted their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Royal Bank of Canada increased their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.92.

Check Out Our Latest Report on OKE

ONEOK Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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