Dynamic Advisor Solutions LLC Has $1.71 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Dynamic Advisor Solutions LLC lessened its position in shares of ONEOK, Inc. (NYSE:OKE) by 19.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,069 shares of the utilities provider’s stock after selling 4,243 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in ONEOK were worth $1,714,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Marshall Wace LLP acquired a new position in shares of ONEOK in the 2nd quarter valued at $16,046,000. AQR Capital Management LLC increased its stake in ONEOK by 0.4% in the second quarter. AQR Capital Management LLC now owns 93,486 shares of the utilities provider’s stock valued at $7,566,000 after acquiring an additional 383 shares during the period. Daymark Wealth Partners LLC raised its position in ONEOK by 35.9% in the second quarter. Daymark Wealth Partners LLC now owns 5,513 shares of the utilities provider’s stock worth $450,000 after purchasing an additional 1,455 shares in the last quarter. MBB Public Markets I LLC lifted its stake in ONEOK by 481.4% during the second quarter. MBB Public Markets I LLC now owns 44,189 shares of the utilities provider’s stock worth $3,604,000 after purchasing an additional 36,589 shares during the period. Finally, Dorsey Wright & Associates acquired a new stake in ONEOK during the second quarter valued at approximately $261,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

ONEOK stock opened at $104.42 on Friday. ONEOK, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07. The company’s 50-day moving average is $106.00 and its two-hundred day moving average is $96.50. 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 cap of $61.00 billion, a PE ratio of 21.84, a PEG ratio of 4.03 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the previous year, the business posted $0.99 earnings per share. Equities analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a dividend of $1.03 per share. The ex-dividend date is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 3.95%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 82.85%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays raised their target price on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. UBS Group lifted their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada lifted their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Finally, Truist Financial upped their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $102.92.

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.