ONEOK, Inc. (NYSE:OKE) Stock Holdings Lifted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 0.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 197,720 shares of the utilities provider’s stock after buying an additional 1,669 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in ONEOK were worth $15,851,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Hilltop Holdings Inc. lifted its position in shares of ONEOK by 7.3% in the 4th quarter. Hilltop Holdings Inc. now owns 16,525 shares of the utilities provider’s stock worth $1,160,000 after buying an additional 1,124 shares during the last quarter. Fifth Third Bancorp lifted its position in ONEOK by 16.2% in the 4th quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock valued at $1,531,000 after purchasing an additional 3,032 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in ONEOK by 26.6% in the 4th quarter. Kestra Private Wealth Services LLC now owns 24,568 shares of the utilities provider’s stock valued at $1,725,000 after purchasing an additional 5,167 shares during the last quarter. ELCO Management Co. LLC lifted its position in ONEOK by 102.3% in the 3rd quarter. ELCO Management Co. LLC now owns 26,432 shares of the utilities provider’s stock valued at $1,677,000 after purchasing an additional 13,367 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in ONEOK by 31.6% in the 4th quarter. Federated Hermes Inc. now owns 160,596 shares of the utilities provider’s stock valued at $11,277,000 after purchasing an additional 38,560 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OKE. Morgan Stanley lifted their price objective on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. Citigroup raised their target price on shares of ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Mizuho raised their target price on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. raised their target price on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Stifel Nicolaus raised their target price on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $84.50.

ONEOK Stock Performance

Shares of OKE opened at $81.55 on Friday. The firm’s 50 day moving average is $80.15 and its 200-day moving average is $75.75. The stock has a market capitalization of $47.60 billion, a P/E ratio of 18.97, a P/E/G ratio of 4.33 and a beta of 1.65. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48. ONEOK, Inc. has a 12-month low of $60.52 and a 12-month high of $83.31.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The business had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same period last year, the firm posted $2.34 earnings per share. Equities research analysts anticipate that ONEOK, Inc. will post 4.94 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.86%. The ex-dividend date was Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

About ONEOK

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.