SageOak Financial LLC Makes New $1.56 Million Investment in ONEOK, Inc. (NYSE:OKE)

SageOak Financial LLC purchased a new position in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,497 shares of the utilities provider’s stock, valued at approximately $1,556,000. ONEOK makes up approximately 1.4% of SageOak Financial LLC’s portfolio, making the stock its 12th biggest holding.

Other large investors also recently modified their holdings of the company. Kieckhefer Group LLC bought a new stake in shares of ONEOK in the fourth quarter worth about $30,000. Canton Hathaway LLC bought a new position in shares of ONEOK during the fourth quarter worth about $40,000. J.Safra Asset Management Corp bought a new position in shares of ONEOK during the fourth quarter worth about $48,000. VSM Wealth Advisory LLC bought a new position in shares of ONEOK during the fourth quarter worth about $50,000. Finally, OFI Invest Asset Management bought a new position in shares of ONEOK during the fourth quarter worth about $51,000. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on OKE shares. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Truist Financial increased their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Barclays decreased their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Citigroup initiated coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price target for the company. Finally, Scotiabank decreased their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.31.

ONEOK Stock Performance

OKE opened at $97.95 on Wednesday. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07. The stock has a market cap of $61.15 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 3.77 and a beta of 1.70. The business has a 50 day moving average of $99.08 and a 200-day moving average of $99.74. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. On average, equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.21%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 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.