Lee Danner & Bass Inc. Makes New $115,000 Investment in ONEOK, Inc. (NYSE:OKE)

Lee Danner & Bass Inc. acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,146 shares of the utilities provider’s stock, valued at approximately $115,000.

Several other large investors have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new stake in shares of ONEOK during the 4th quarter worth $30,000. Canton Hathaway LLC acquired a new stake in shares of ONEOK during the 4th quarter worth $40,000. J.Safra Asset Management Corp acquired a new stake in shares of ONEOK during the 4th quarter worth $48,000. VSM Wealth Advisory LLC acquired a new stake in shares of ONEOK during the 4th quarter worth $50,000. Finally, OFI Invest Asset Management acquired a new stake in shares of ONEOK during the 4th quarter worth $51,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

ONEOK stock opened at $99.45 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $62.09 billion, a PE ratio of 20.81, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. The stock has a 50-day moving average price of $98.94 and a two-hundred day moving average price of $99.80.

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, topping 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 company had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. Analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.14%. 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 (DPR) is 79.69%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on OKE shares. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Truist Financial raised their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. Barclays reduced their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Finally, Wells Fargo & Company reduced their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.31.

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.