FineMark National Bank & Trust Raises Holdings in ONEOK, Inc. (NYSE:OKE)

FineMark National Bank & Trust raised its position in ONEOK, Inc. (NYSE:OKE) by 3.0% during the fourth quarter, HoldingsChannel reports. The firm owned 4,632 shares of the utilities provider’s stock after purchasing an additional 133 shares during the period. FineMark National Bank & Trust’s holdings in ONEOK were worth $465,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Astoria Portfolio Advisors LLC. grew its position in shares of ONEOK by 4.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock valued at $260,000 after purchasing an additional 96 shares in the last quarter. McAdam LLC grew its holdings in ONEOK by 3.8% in the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock valued at $262,000 after buying an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC increased its stake in shares of ONEOK by 0.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after acquiring an additional 100 shares during the last quarter. Mutual Advisors LLC raised its holdings in shares of ONEOK by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after acquiring an additional 103 shares during the period. Finally, Morton Capital Management LLC CA boosted its position in shares of ONEOK by 1.4% during the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock valued at $734,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Morgan Stanley increased their price objective on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Barclays reduced their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $105.00.

ONEOK Stock Performance

NYSE OKE opened at $101.22 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market cap of $63.20 billion, a P/E ratio of 21.18, a P/E/G ratio of 3.77 and a beta of 1.70. The stock has a 50-day moving average of $98.72 and a two-hundred day moving average of $100.08. ONEOK, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07.

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

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.07%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 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.