258,283 Shares in ONEOK, Inc. (NYSE:OKE) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 258,283 shares of the utilities provider’s stock, valued at approximately $258,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of OKE. Charles Schwab Investment Management Inc. raised its stake in ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after acquiring an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of ONEOK in the third quarter valued at approximately $47,957,000. National Pension Service increased its stake in shares of ONEOK by 65.3% in the fourth quarter. National Pension Service now owns 1,262,741 shares of the utilities provider’s stock valued at $126,779,000 after purchasing an additional 498,908 shares during the period. Yaupon Capital Management LP acquired a new stake in shares of ONEOK in the third quarter valued at approximately $45,194,000. Finally, Strategic Financial Concepts LLC increased its stake in shares of ONEOK by 10,153.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock valued at $49,662,000 after purchasing an additional 489,821 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 1.3 %

Shares of NYSE:OKE opened at $92.63 on Wednesday. The stock has a market capitalization of $57.83 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07. 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 company has a 50 day moving average price of $99.66 and a 200 day moving average price of $99.52.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 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 the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.45%. 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 is 79.69%.

Wall Street Analysts Forecast Growth

OKE has been the topic of several analyst reports. Barclays dropped their price target 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. Truist Financial raised their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Citigroup initiated coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price target on the stock. Scotiabank dropped their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Finally, Wells Fargo & Company dropped their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $103.31.

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.