ONEOK, Inc. (NYSE:OKE) Holdings Raised by Sowell Financial Services LLC

Sowell Financial Services LLC lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 5.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 91,059 shares of the utilities provider’s stock after acquiring an additional 4,818 shares during the period. Sowell Financial Services LLC’s holdings in ONEOK were worth $9,142,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in ONEOK during the fourth quarter worth about $182,694,000. Charles Schwab Investment Management Inc. grew its holdings in ONEOK by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after acquiring an additional 934,007 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in ONEOK during the third quarter worth about $47,957,000. National Pension Service grew its holdings in ONEOK by 65.3% during the fourth quarter. National Pension Service now owns 1,262,741 shares of the utilities provider’s stock worth $126,779,000 after acquiring an additional 498,908 shares during the period. Finally, Yaupon Capital Management LP acquired a new position in ONEOK during the third quarter worth about $45,194,000. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Citigroup assumed coverage on ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 target price on the stock. Truist Financial lifted their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Barclays dropped their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Stock Down 0.2 %

Shares of ONEOK stock opened at $89.59 on Friday. The firm has a market cap of $55.93 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. The stock has a 50-day simple moving average of $100.00 and a 200-day simple moving average of $99.37.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. On average, equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.60%. The ex-dividend date was Monday, February 3rd. ONEOK’s payout ratio is 79.69%.

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.