Ethos Financial Group LLC Purchases New Stake in ONEOK, Inc. (NYSE:OKE)

Ethos Financial Group LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,169 shares of the utilities provider’s stock, valued at approximately $218,000.

Several other large investors have also recently added to or reduced their stakes in OKE. Astoria Portfolio Advisors LLC. boosted its position in shares of ONEOK by 4.1% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock valued at $260,000 after purchasing an additional 96 shares during the period. McAdam LLC boosted its position in shares of ONEOK by 3.8% in the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 96 shares during the period. Alliance Wealth Advisors LLC boosted its position in shares of ONEOK by 0.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock valued at $1,262,000 after purchasing an additional 100 shares during the period. Mutual Advisors LLC boosted its position in shares of ONEOK by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after purchasing an additional 103 shares during the period. Finally, Morton Capital Management LLC CA boosted its position in shares of ONEOK by 1.4% in the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock valued at $734,000 after purchasing an additional 104 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Down 2.4 %

OKE opened at $89.69 on Friday. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07. The business has a 50-day moving average of $100.22 and a 200-day moving average of $99.28. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market capitalization of $56.00 billion, a PE ratio of 18.76, a price-to-earnings-growth 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 for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. Equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.59%. This is an increase 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%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on OKE shares. UBS Group increased their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Wells Fargo & Company decreased their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Barclays started coverage on ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price objective for the company. Truist Financial increased their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Finally, Scotiabank reduced their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.62.

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.