Marcum Wealth LLC Has $1.02 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Marcum Wealth LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,142 shares of the utilities provider’s stock after purchasing an additional 195 shares during the quarter. Marcum Wealth LLC’s holdings in ONEOK were worth $1,018,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. National Pension Service grew its holdings in ONEOK by 1.6% during the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after acquiring an additional 12,349 shares during the period. Leavell Investment Management Inc. grew its stake in shares of ONEOK by 3.8% during the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after purchasing an additional 5,175 shares during the period. Caxton Associates LP bought a new stake in ONEOK in the second quarter valued at about $1,225,000. Point72 Europe London LLP bought a new stake in ONEOK in the second quarter valued at about $15,008,000. Finally, Nations Financial Group Inc. IA ADV lifted its stake in ONEOK by 11.1% in the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock valued at $4,972,000 after buying an additional 5,451 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on OKE shares. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $103.00 to $111.00 in a report on Monday, September 16th. UBS Group raised their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Barclays lifted their price objective on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, Bank of America initiated coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price on the stock. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.54.

ONEOK Trading Up 2.1 %

ONEOK stock opened at $103.92 on Tuesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a 50-day simple moving average of $105.80 and a 200 day simple moving average of $95.11. The stock has a market capitalization of $60.71 billion, a P/E ratio of 21.74, a PEG ratio of 5.24 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $67.05 and a 52 week high of $118.07.

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

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is presently 82.85%.

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.