ONEOK, Inc. (NYSE:OKE) Shares Purchased by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC raised its holdings in ONEOK, Inc. (NYSE:OKE) by 5,046.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,469 shares of the utilities provider’s stock after buying an additional 9,285 shares during the period. New Age Alpha Advisors LLC’s holdings in ONEOK were worth $951,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. FNY Investment Advisers LLC lifted its stake in ONEOK by 14,279.1% during the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after purchasing an additional 21,847 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after buying an additional 5,321 shares during the last quarter. Simon Quick Advisors LLC acquired a new position in shares of ONEOK in the 4th quarter valued at $251,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of ONEOK by 9.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider’s stock valued at $155,038,000 after buying an additional 136,071 shares during the last quarter. Finally, Contravisory Investment Management Inc. acquired a new stake in ONEOK during the 4th quarter worth $9,483,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OKE. Morgan Stanley raised their price objective on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Scotiabank dropped their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Wells Fargo & Company reduced their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. 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 research report on Tuesday, December 3rd. Finally, Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Monday, February 10th. Seven 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Price Performance

OKE stock opened at $99.28 on Tuesday. The company has a market cap of $61.98 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 3.77 and a beta of 1.70. 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 50 day moving average of $98.12 and a 200-day moving average of $100.30. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $6.18 billion. As a group, equities analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio is currently 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.