ORG Wealth Partners LLC Increases Stake in ONEOK, Inc. (NYSE:OKE)

by · The Markets Daily

ORG Wealth Partners LLC raised its holdings in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 68.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,953 shares of the utilities provider’s stock after acquiring an additional 792 shares during the quarter. ORG Wealth Partners LLC’s holdings in ONEOK were worth $196,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in ONEOK during the 2nd quarter valued at $1,768,000. Ballentine Partners LLC boosted its stake in ONEOK by 3.9% in the 2nd quarter. Ballentine Partners LLC now owns 4,387 shares of the utilities provider’s stock worth $358,000 after purchasing an additional 163 shares during the period. Quest Partners LLC purchased a new position in ONEOK during the 2nd quarter valued at about $28,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of ONEOK during the second quarter valued at about $117,000. Finally, Choreo LLC lifted its holdings in shares of ONEOK by 135.3% in the second quarter. Choreo LLC now owns 16,122 shares of the utilities provider’s stock worth $1,317,000 after buying an additional 9,271 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of OKE stock traded down $1.50 on Friday, hitting $101.35. 940,974 shares of the stock traded hands, compared to its average volume of 2,282,635. ONEOK, Inc. has a 52 week low of $67.05 and a 52 week high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market cap of $59.21 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 5.24 and a beta of 1.70. The firm has a 50 day simple moving average of $105.46 and a two-hundred day simple moving average of $94.61.

ONEOK (NYSE:OKE – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (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 company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. As a group, equities research analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OKE. UBS Group boosted their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Bank of America initiated coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Barclays upped their price target on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Finally, Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.54.

Read Our Latest Report on OKE

ONEOK Company Profile

(Free Report)

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.

Further Reading

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