Sage Investment Counsel LLC Invests $204,000 in ONEOK, Inc. (NYSE:OKE)

Sage Investment Counsel LLC acquired a new position in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 2,031 shares of the utilities provider’s stock, valued at approximately $204,000.

Several other institutional investors have also recently modified their holdings of the company. SVB Wealth LLC purchased a new position in ONEOK during the fourth quarter valued at approximately $1,910,000. Tower Bridge Advisors raised its position in ONEOK by 3.1% during the fourth quarter. Tower Bridge Advisors now owns 84,092 shares of the utilities provider’s stock valued at $8,443,000 after acquiring an additional 2,564 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. purchased a new position in ONEOK during the fourth quarter valued at approximately $249,000. Private Trust Co. NA raised its position in ONEOK by 17.2% during the fourth quarter. Private Trust Co. NA now owns 9,061 shares of the utilities provider’s stock valued at $910,000 after acquiring an additional 1,330 shares in the last quarter. Finally, Verus Capital Partners LLC raised its position in ONEOK by 9.1% during the fourth quarter. Verus Capital Partners LLC now owns 7,667 shares of the utilities provider’s stock valued at $770,000 after acquiring an additional 642 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

NYSE OKE opened at $100.29 on Friday. The stock’s fifty day moving average is $100.91 and its two-hundred day moving average is $99.10. The firm has a market capitalization of $58.59 billion, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. 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 fifty-two week low of $74.39 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.11%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 86.19%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on OKE shares. Barclays started coverage on ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price target for the company. UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Citigroup started coverage on ONEOK in a report on Friday. They issued a “buy” rating and a $110.00 price objective on the stock. Truist Financial raised their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Finally, 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 report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus price target of $104.15.

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.