OneAscent Wealth Management LLC Buys Shares of 2,255 ONEOK, Inc. (NYSE:OKE)

OneAscent Wealth Management LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,255 shares of the utilities provider’s stock, valued at approximately $226,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kieckhefer Group LLC bought a new stake in shares of ONEOK during the 4th quarter worth about $30,000. Canton Hathaway LLC acquired a new position in shares of ONEOK during the fourth quarter valued at approximately $40,000. J.Safra Asset Management Corp bought a new stake in ONEOK during the fourth quarter worth approximately $48,000. VSM Wealth Advisory LLC acquired a new stake in ONEOK in the fourth quarter worth approximately $50,000. Finally, OFI Invest Asset Management bought a new position in ONEOK during the 4th quarter valued at $51,000. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on OKE shares. Citigroup initiated coverage on ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Wells Fargo & Company cut their price target 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. Barclays lowered their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Monday, February 10th. Finally, Truist Financial lifted their price target 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. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $105.00.

ONEOK Price Performance

OKE opened at $98.47 on Friday. The stock has a fifty day moving average price of $98.32 and a 200 day moving average price of $100.17. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The stock has a market cap of $61.48 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.18%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 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.