6,556 Shares in ONEOK, Inc. (NYSE:OKE) Bought by Flagship Wealth Advisors LLC

Flagship Wealth Advisors LLC bought a new position in 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 6,556 shares of the utilities provider’s stock, valued at approximately $658,000.

A number of other institutional investors have also recently modified their holdings of the stock. Parallel Advisors LLC lifted its holdings in ONEOK by 2.3% in the fourth quarter. Parallel Advisors LLC now owns 11,163 shares of the utilities provider’s stock valued at $1,121,000 after acquiring an additional 248 shares during the period. Cibc World Markets Corp grew its position in shares of ONEOK by 16.3% during the fourth quarter. Cibc World Markets Corp now owns 92,138 shares of the utilities provider’s stock worth $9,251,000 after purchasing an additional 12,908 shares in the last quarter. SouthState Corp grew its position in shares of ONEOK by 15.4% during the fourth quarter. SouthState Corp now owns 1,019 shares of the utilities provider’s stock worth $102,000 after purchasing an additional 136 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in ONEOK by 9.6% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,330 shares of the utilities provider’s stock valued at $334,000 after buying an additional 293 shares in the last quarter. Finally, GWN Securities Inc. purchased a new position in ONEOK during the 4th quarter valued at approximately $439,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. Citigroup started coverage on ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 target price 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 research note on Tuesday, December 3rd. 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 dropped their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Price Performance

ONEOK stock opened at $96.52 on Monday. ONEOK, Inc. has a 52 week low of $76.23 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. The firm’s 50-day simple moving average is $99.21 and its 200 day simple moving average is $99.65. The firm has a market capitalization of $60.26 billion, a PE ratio of 20.19, a P/E/G ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS 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%. The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. On average, equities research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company 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. The ex-dividend date was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.27%. ONEOK’s dividend payout ratio (DPR) is 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.