Proficio Capital Partners LLC Purchases Shares of 258,283 ONEOK, Inc. (NYSE:OKE)

Proficio Capital Partners LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 258,283 shares of the utilities provider’s stock, valued at approximately $258,000.

A number of other hedge funds also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. boosted its holdings in shares of ONEOK by 1.6% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 34,918 shares of the utilities provider’s stock valued at $3,506,000 after purchasing an additional 557 shares during the last quarter. Kovack Advisors Inc. boosted its holdings in shares of ONEOK by 20.1% in the 4th quarter. Kovack Advisors Inc. now owns 8,042 shares of the utilities provider’s stock valued at $807,000 after purchasing an additional 1,347 shares during the last quarter. New York Life Investment Management LLC lifted its holdings in shares of ONEOK by 0.3% during the 4th quarter. New York Life Investment Management LLC now owns 86,778 shares of the utilities provider’s stock valued at $8,713,000 after acquiring an additional 267 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in shares of ONEOK during the 4th quarter valued at $216,000. Finally, Checchi Capital Advisers LLC lifted its holdings in shares of ONEOK by 3.1% during the 4th quarter. Checchi Capital Advisers LLC now owns 9,365 shares of the utilities provider’s stock valued at $940,000 after acquiring an additional 280 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Scotiabank reduced their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company reduced their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Barclays reduced their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Truist Financial lifted their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Finally, Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.31.

ONEOK Stock Performance

Shares of ONEOK stock opened at $92.63 on Wednesday. The firm has a market cap of $57.83 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The firm’s 50-day simple moving average is $99.66 and its 200-day simple moving average is $99.52. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The business 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%. Equities analysts forecast 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 paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is 79.69%.

ONEOK 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.