Keystone Financial Group Acquires New Position in ONEOK, Inc. (NYSE:OKE)

Keystone Financial Group bought a new position in shares of ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,968 shares of the utilities provider’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Beacon Capital Management LLC grew its stake in shares of ONEOK by 90.7% during the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 194 shares during the period. HHM Wealth Advisors LLC bought a new stake in shares of ONEOK in the 4th quarter valued at about $32,000. Loomis Sayles & Co. L P boosted its stake in ONEOK by 605.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 478 shares during the last quarter. SOA Wealth Advisors LLC. grew its holdings in ONEOK by 283.5% during the fourth quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 377 shares during the period. Finally, First Command Advisory Services Inc. bought a new stake in ONEOK in the third quarter valued at approximately $40,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE traded down $1.00 during midday trading on Wednesday, reaching $82.01. The stock had a trading volume of 392,555 shares, compared to its average volume of 2,861,987. The firm has a market cap of $47.87 billion, a PE ratio of 19.30, a P/E/G ratio of 4.43 and a beta of 1.64. The firm has a 50 day simple moving average of $79.48 and a 200-day simple moving average of $73.26. ONEOK, Inc. has a one year low of $56.19 and a one year high of $83.31. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the previous year, the business earned $2.34 earnings per share. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 4.94 EPS for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.83%. The ex-dividend date was Tuesday, April 30th. ONEOK’s dividend payout ratio is 92.09%.

Insiders Place Their Bets

In other news, Director Wayne Thomas Smith purchased 2,700 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was acquired at an average cost of $75.25 per share, with a total value of $203,175.00. Following the acquisition, the director now owns 2,700 shares in the company, valued at approximately $203,175. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OKE. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Truist Financial raised their price target on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. Stifel Nicolaus boosted their price objective on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley upped their target price on shares of ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 26th. Finally, Barclays lifted their price target on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, ONEOK presently has an average rating of “Hold” and an average target price of $83.58.

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.