Vision Financial Markets LLC Invests $251,000 in ONEOK, Inc. (NYSE:OKE)

Vision Financial Markets LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,499 shares of the utilities provider’s stock, valued at approximately $251,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of ONEOK by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after buying an additional 934,007 shares during the period. Geode Capital Management LLC lifted its stake in shares of ONEOK by 1.0% during the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after buying an additional 138,430 shares during the period. Janus Henderson Group PLC lifted its stake in shares of ONEOK by 0.3% during the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after buying an additional 11,189 shares during the period. Chickasaw Capital Management LLC lifted its stake in shares of ONEOK by 15.2% during the fourth quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock worth $200,031,000 after buying an additional 263,545 shares during the period. Finally, Barclays PLC lifted its stake in shares of ONEOK by 16.1% during the third quarter. Barclays PLC now owns 1,888,864 shares of the utilities provider’s stock worth $172,131,000 after buying an additional 262,486 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OKE. Truist Financial raised their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Barclays began coverage on shares of ONEOK in a report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 target price for the company. Citigroup began coverage on shares of ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.15.

ONEOK Stock Down 2.0 %

OKE opened at $91.95 on Thursday. The stock has a market capitalization of $57.40 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 3.77 and a beta of 1.70. The company has a fifty day moving average of $100.45 and a two-hundred day moving average of $99.34. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The business 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, research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.48%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 79.69%.

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.