Kovack Advisors Inc. Purchases 1,347 Shares of ONEOK, Inc. (NYSE:OKE)

Kovack Advisors Inc. grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 20.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,042 shares of the utilities provider’s stock after buying an additional 1,347 shares during the quarter. Kovack Advisors Inc.’s holdings in ONEOK were worth $807,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Arkadios Wealth Advisors grew its position in ONEOK by 18.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 3,315 shares of the utilities provider’s stock worth $302,000 after acquiring an additional 525 shares during the last quarter. Childress Capital Advisors LLC bought a new stake in shares of ONEOK during the third quarter worth $213,000. First Trust Direct Indexing L.P. grew its holdings in shares of ONEOK by 5.7% during the third quarter. First Trust Direct Indexing L.P. now owns 23,007 shares of the utilities provider’s stock worth $2,097,000 after purchasing an additional 1,237 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in shares of ONEOK by 37.7% in the third quarter. Pinnacle Associates Ltd. now owns 5,776 shares of the utilities provider’s stock valued at $526,000 after buying an additional 1,582 shares in the last quarter. Finally, HM Payson & Co. raised its holdings in shares of ONEOK by 6.3% in the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after buying an additional 105 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of research analyst reports. Truist Financial increased their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 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 note on Monday, February 10th. Barclays began coverage on shares of ONEOK in a research report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price objective for the company. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Finally, US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.54.

ONEOK Price Performance

ONEOK stock opened at $96.62 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $56.44 billion, a P/E ratio of 20.21, a PEG ratio of 3.77 and a beta of 1.70. The business has a 50-day moving average of $100.91 and a 200-day moving average of $99.00. ONEOK, Inc. has a 1 year low of $73.89 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) 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%. On average, equities analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is presently 86.19%.

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.