Pinion Investment Advisors LLC Has $1.11 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Pinion Investment Advisors LLC lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 25.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,076 shares of the utilities provider’s stock after purchasing an additional 2,263 shares during the quarter. Pinion Investment Advisors LLC’s holdings in ONEOK were worth $1,112,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Astoria Portfolio Advisors LLC. grew its stake in ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after buying an additional 96 shares in the last quarter. McAdam LLC boosted its position in shares of ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after acquiring an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC increased its stake in ONEOK by 0.8% in the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock valued at $1,262,000 after acquiring an additional 100 shares during the last quarter. Mutual Advisors LLC lifted its stake in ONEOK by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after purchasing an additional 103 shares during the last quarter. Finally, Morton Capital Management LLC CA boosted its holdings in shares of ONEOK by 1.4% in the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock valued at $734,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of OKE opened at $96.57 on Tuesday. The business has a 50-day moving average of $100.83 and a 200-day moving average of $99.35. ONEOK, Inc. has a 1 year low of $75.69 and a 1 year high of $118.07. The company has a market capitalization of $60.29 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last issued its quarterly 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 firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Analysts Set New Price Targets

OKE has been the subject of several recent analyst reports. Truist Financial upped their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Citigroup initiated coverage on shares of ONEOK in a research note on Friday. They issued a “buy” rating and a $110.00 price target on the stock. Barclays assumed coverage on shares of ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price objective for the company. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, UBS Group increased their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $104.15.

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.