ONEOK, Inc. (NYSE:OKE) Shares Acquired by Howard Capital Management Inc.

Howard Capital Management Inc. increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,671 shares of the utilities provider’s stock after acquiring an additional 194 shares during the quarter. Howard Capital Management Inc.’s holdings in ONEOK were worth $569,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OKE. Ballentine Partners LLC increased its stake in ONEOK by 7.3% in the third quarter. Ballentine Partners LLC now owns 4,707 shares of the utilities provider’s stock valued at $429,000 after purchasing an additional 320 shares during the last quarter. Mediolanum International Funds Ltd grew its holdings in ONEOK by 6.4% in the 3rd quarter. Mediolanum International Funds Ltd now owns 16,450 shares of the utilities provider’s stock valued at $1,482,000 after buying an additional 992 shares during the period. Arkadios Wealth Advisors increased its stake in shares of ONEOK by 18.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 3,315 shares of the utilities provider’s stock valued at $302,000 after acquiring an additional 525 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of ONEOK by 9.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 218,544 shares of the utilities provider’s stock worth $19,916,000 after acquiring an additional 18,782 shares during the period. Finally, Frank Rimerman Advisors LLC boosted its position in shares of ONEOK by 50.8% in the third quarter. Frank Rimerman Advisors LLC now owns 15,546 shares of the utilities provider’s stock worth $1,417,000 after acquiring an additional 5,239 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays began coverage on shares of ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price target for the company. Truist Financial upped their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Scotiabank initiated coverage on ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price on the stock. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research note on Wednesday, December 18th. Finally, Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Seven investment 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Stock Up 0.0 %

Shares of NYSE:OKE opened at $98.14 on Tuesday. The company has a market capitalization of $57.33 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a 50 day moving average of $101.09 and a two-hundred day moving average of $98.96. ONEOK, Inc. has a 52-week low of $72.44 and a 52-week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last released its quarterly earnings results 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. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors 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. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.20%. ONEOK’s payout ratio is 86.19%.

About ONEOK

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.