Red Door Wealth Management LLC Buys 181 Shares of ONEOK, Inc. (NYSE:OKE)

Red Door Wealth Management LLC raised its stake in ONEOK, Inc. (NYSE:OKE) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,468 shares of the utilities provider’s stock after buying an additional 181 shares during the period. Red Door Wealth Management LLC’s holdings in ONEOK were worth $1,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in OKE. Kieckhefer Group LLC purchased a new stake in shares of ONEOK in the fourth quarter valued at approximately $30,000. Matrix Trust Co bought a new position in shares of ONEOK during the 3rd quarter worth $29,000. Access Investment Management LLC bought a new stake in shares of ONEOK in the third quarter valued at about $37,000. Values First Advisors Inc. bought a new stake in shares of ONEOK in the third quarter valued at about $44,000. Finally, Fortitude Family Office LLC grew its holdings in ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 135 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Truist Financial upped 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. Royal Bank of Canada lifted their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Bank of America started coverage on ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a research note on Wednesday, December 18th. Finally, Scotiabank assumed coverage on shares of ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.92.

ONEOK Stock Performance

Shares of OKE opened at $104.91 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a 50-day moving average of $106.17 and a two-hundred day moving average of $96.28. The stock has a market cap of $61.29 billion, a P/E ratio of 21.95, a P/E/G ratio of 4.03 and a beta of 1.70. ONEOK, Inc. has a one year low of $67.05 and a one year high of $118.07.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the prior year, the company earned $0.99 EPS. As a group, research analysts predict that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, February 3rd. 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 3.93%. ONEOK’s payout ratio is currently 82.85%.

ONEOK Company 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.