Atlas Wealth LLC Purchases Shares of 2,689 ONEOK, Inc. (NYSE:OKE)

Atlas Wealth LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,689 shares of the utilities provider’s stock, valued at approximately $270,000.

Several other large investors have also recently modified their holdings of OKE. Empowered Funds LLC increased its holdings in shares of ONEOK by 8.8% in the third quarter. Empowered Funds LLC now owns 9,884 shares of the utilities provider’s stock worth $901,000 after buying an additional 797 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of ONEOK by 1.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 192,611 shares of the utilities provider’s stock worth $17,553,000 after acquiring an additional 2,921 shares during the period. Jennison Associates LLC lifted its position in ONEOK by 1.0% in the 3rd quarter. Jennison Associates LLC now owns 423,270 shares of the utilities provider’s stock valued at $38,573,000 after acquiring an additional 4,157 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in ONEOK by 25.3% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 11,409 shares of the utilities provider’s stock valued at $1,040,000 after acquiring an additional 2,307 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in ONEOK by 10.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 71,918 shares of the utilities provider’s stock valued at $6,554,000 after acquiring an additional 6,713 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the topic of several research analyst reports. Scotiabank lowered their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Citigroup started coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price target for the company. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research report on Monday, February 10th. Finally, Truist Financial raised their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Seven 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 stock. According to data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Stock Down 1.2 %

Shares of NYSE OKE opened at $99.45 on Friday. The firm has a 50-day simple moving average of $98.94 and a two-hundred day simple moving average of $99.80. 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 1 year low of $76.23 and a 1 year high of $118.07. The company has a market cap of $62.09 billion, a P/E ratio of 20.81, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last issued its quarterly earnings data 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. The company had revenue of $7 billion for the quarter, compared to analyst estimates 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 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.14%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 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.