Mindset Wealth Management LLC Raises Stake in ONEOK, Inc. (NYSE:OKE)

Mindset Wealth Management LLC lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,114 shares of the utilities provider’s stock after buying an additional 106 shares during the quarter. ONEOK accounts for approximately 0.6% of Mindset Wealth Management LLC’s holdings, making the stock its 12th largest position. Mindset Wealth Management LLC’s holdings in ONEOK were worth $1,618,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Astoria Portfolio Advisors LLC. increased 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 valued at $260,000 after purchasing an additional 96 shares during the last quarter. McAdam LLC increased its stake in ONEOK by 3.8% during the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC increased its stake in ONEOK by 0.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock valued at $1,262,000 after purchasing an additional 100 shares during the last quarter. Mutual Advisors LLC increased 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 valued at $965,000 after purchasing an additional 103 shares during the last quarter. Finally, Morton Capital Management LLC CA increased its stake in ONEOK by 1.4% during the fourth 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 during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Trading Up 0.7 %

Shares of NYSE OKE opened at $100.75 on Friday. The stock has a market cap of $62.90 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 3.77 and a beta of 1.70. The business has a 50 day simple moving average of $98.99 and a 200 day simple moving average of $99.75. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

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. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.09%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio is presently 79.69%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on OKE shares. Truist Financial boosted their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Wells Fargo & Company reduced their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Scotiabank reduced their price objective on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Citigroup initiated coverage on shares of ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price target for the company. Finally, Barclays cut their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Seven equities 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. According to data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average target price of $103.31.

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.