ONEOK, Inc. (NYSE:OKE) Shares Bought by Lifeworks Advisors LLC

Lifeworks Advisors LLC increased its position in ONEOK, Inc. (NYSE:OKE) by 25.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,872 shares of the utilities provider’s stock after buying an additional 1,002 shares during the period. Lifeworks Advisors LLC’s holdings in ONEOK were worth $489,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Larson Financial Group LLC lifted its stake in shares of ONEOK by 12.2% during the 4th quarter. Larson Financial Group LLC now owns 33,707 shares of the utilities provider’s stock worth $3,384,000 after purchasing an additional 3,658 shares during the period. Blankinship & Foster LLC acquired a new position in ONEOK in the fourth quarter valued at $1,132,000. Banco Santander S.A. lifted its position in ONEOK by 27.1% during the fourth quarter. Banco Santander S.A. now owns 21,944 shares of the utilities provider’s stock worth $2,203,000 after buying an additional 4,682 shares during the period. RKL Wealth Management LLC boosted its stake in ONEOK by 6.7% in the 4th quarter. RKL Wealth Management LLC now owns 13,064 shares of the utilities provider’s stock worth $1,312,000 after buying an additional 823 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its holdings in ONEOK by 0.4% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 53,454 shares of the utilities provider’s stock valued at $5,367,000 after buying an additional 218 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OKE. UBS Group increased their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Barclays cut their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday. Citigroup began coverage on shares of ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 price objective for the company. Truist Financial increased their target price on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Finally, US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Stock Performance

ONEOK stock opened at $89.59 on Friday. 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 one year low of $76.23 and a one year high of $118.07. The stock’s 50 day moving average price is $100.00 and its 200 day moving average price is $99.37. The firm has a market capitalization of $55.93 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced 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 4.60%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK’s payout ratio is presently 79.69%.

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.