Retirement Planning Co of New England Inc. Buys New Position in ONEOK, Inc. (NYSE:OKE)

Retirement Planning Co of New England Inc. bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, Holdings Channel.com reports. The firm bought 2,252 shares of the utilities provider’s stock, valued at approximately $226,000.

Several other large investors also recently added to or reduced their stakes in the business. Kieckhefer Group LLC bought a new position in shares of ONEOK in the fourth quarter worth approximately $30,000. Canton Hathaway LLC bought a new position in shares of ONEOK in the fourth quarter worth approximately $40,000. J.Safra Asset Management Corp bought a new position in shares of ONEOK in the fourth quarter worth approximately $48,000. OFI Invest Asset Management bought a new position in shares of ONEOK in the fourth quarter worth approximately $51,000. Finally, Versant Capital Management Inc boosted its position in shares of ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 260 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on OKE shares. 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. Citigroup assumed coverage on shares of ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company. Wolfe Research upgraded 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 report on Monday, February 10th. Wells Fargo & Company dropped their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Finally, Barclays dropped their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Seven investment 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. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $103.31.

ONEOK Trading Down 0.5 %

Shares of OKE opened at $97.95 on Wednesday. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07. The company has a market cap of $61.15 billion, a P/E ratio of 20.49, a P/E/G ratio of 3.77 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company’s fifty day simple moving average is $99.08 and its 200-day simple moving average is $99.74.

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

ONEOK Increases Dividend

The business also recently declared 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 annualized dividend and a yield of 4.21%. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

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.