Wealth Enhancement Advisory Services LLC Has $16.29 Million Position in ONEOK, Inc. (NYSE:OKE)

Wealth Enhancement Advisory Services LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 199,762 shares of the utilities provider’s stock after acquiring an additional 2,042 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in ONEOK were worth $16,291,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Rise Advisors LLC bought a new position in ONEOK during the 1st quarter worth $25,000. LifeSteps Financial Inc. bought a new stake in shares of ONEOK during the 1st quarter valued at approximately $26,000. American National Bank acquired a new stake in ONEOK during the 1st quarter valued at approximately $32,000. HHM Wealth Advisors LLC acquired a new position in ONEOK in the fourth quarter valued at $32,000. Finally, Manchester Capital Management LLC grew its stake in ONEOK by 66.4% during the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 182 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

ONEOK stock traded up $0.44 on Wednesday, hitting $86.18. The company’s stock had a trading volume of 656,650 shares, compared to its average volume of 2,760,128. The company has a fifty day moving average price of $81.91 and a 200-day moving average price of $78.80. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The firm has a market cap of $50.30 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 4.37 and a beta of 1.65. ONEOK, Inc. has a one year low of $60.58 and a one year high of $86.40.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the previous year, the company posted $1.04 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.02 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Thursday, August 1st. ONEOK’s dividend payout ratio is 92.09%.

Wall Street Analyst Weigh In

OKE has been the subject of several research analyst reports. Truist Financial boosted their target price on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Mizuho raised their price target on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Finally, Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $85.50.

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.