ONEOK, Inc. (NYSE:OKE) Holdings Boosted by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 30.9% in the 4th quarter, Holdings Channel reports. The firm owned 4,100 shares of the utilities provider’s stock after acquiring an additional 967 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in ONEOK were worth $412,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in ONEOK by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after buying an additional 934,007 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of ONEOK by 1.0% during the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after acquiring an additional 138,430 shares during the period. Amundi increased its holdings in shares of ONEOK by 5.3% in the 4th quarter. Amundi now owns 4,105,596 shares of the utilities provider’s stock worth $422,261,000 after acquiring an additional 207,324 shares during the period. Janus Henderson Group PLC lifted its position in ONEOK by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after purchasing an additional 11,189 shares during the last quarter. Finally, Chickasaw Capital Management LLC boosted its stake in ONEOK by 15.2% during the 4th quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock valued at $200,031,000 after purchasing an additional 263,545 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Truist Financial lifted their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Scotiabank cut their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Barclays decreased their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Citigroup began coverage on shares of ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 price objective on the stock. Finally, Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research report on Monday, February 10th. Seven equities research 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. Based on data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus price target of $103.31.

ONEOK Stock Up 3.2 %

NYSE OKE opened at $96.52 on Friday. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. The company has a market capitalization of $60.26 billion, a P/E ratio of 20.19, a PEG ratio of 3.77 and a beta of 1.70. The company’s 50 day simple moving average is $99.21 and its 200 day simple moving average is $99.49. 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 (NYSE:OKE) last posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. 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. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.27%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio is currently 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.