PKS Advisory Services LLC Makes New $202,000 Investment in ONEOK, Inc. (NYSE:OKE)

PKS Advisory Services LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,015 shares of the utilities provider’s stock, valued at approximately $202,000.

A number of other large investors also recently modified their holdings of OKE. Kieckhefer Group LLC bought a new position in ONEOK in the fourth quarter worth about $30,000. Canton Hathaway LLC acquired a new stake in shares of ONEOK during the 4th quarter worth approximately $40,000. J.Safra Asset Management Corp bought a new stake in shares of ONEOK in the 4th quarter worth approximately $48,000. VSM Wealth Advisory LLC bought a new position in ONEOK during the 4th quarter worth $50,000. Finally, OFI Invest Asset Management acquired a new stake in ONEOK in the fourth quarter worth $51,000. 69.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on OKE shares. Morgan Stanley boosted their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday. Citigroup initiated coverage on shares of ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company. Truist Financial raised their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Barclays reduced their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Finally, Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Seven equities 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Trading Down 1.1 %

Shares of OKE stock opened at $101.22 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a 50-day simple moving average of $98.72 and a 200 day simple moving average of $100.08. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07. The stock has a market capitalization 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.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping 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 company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. On average, sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

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