Aaron Wealth Advisors LLC Increases Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Aaron Wealth Advisors LLC raised its stake in ONEOK, Inc. (NYSE:OKE) by 10.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,634 shares of the utilities provider’s stock after purchasing an additional 330 shares during the period. Aaron Wealth Advisors LLC’s holdings in ONEOK were worth $296,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in OKE. Rise Advisors LLC purchased a new position in shares of ONEOK during the first quarter worth approximately $25,000. LifeSteps Financial Inc. purchased a new position in shares of ONEOK during the first quarter worth approximately $26,000. HHM Wealth Advisors LLC purchased a new position in shares of ONEOK during the fourth quarter worth approximately $32,000. American National Bank purchased a new position in shares of ONEOK during the first quarter worth approximately $32,000. Finally, Security National Bank purchased a new position in shares of ONEOK during the fourth quarter worth approximately $35,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OKE. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. increased their price target on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Truist Financial increased their price target on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Wells Fargo & Company increased their price target on ONEOK from $85.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Mizuho increased their price target on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $85.50.

ONEOK Price Performance

Shares of NYSE:OKE traded up $0.42 during midday trading on Wednesday, hitting $87.01. 1,809,500 shares of the stock were exchanged, compared to its average volume of 2,772,688. The stock has a market cap of $50.82 billion, a P/E ratio of 20.23, a PEG ratio of 4.36 and a beta of 1.65. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a twelve month low of $60.58 and a twelve month high of $88.68. The company has a 50 day moving average price of $82.70 and a 200-day moving average price of $79.44.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter in the previous year, the company posted $1.04 EPS. On average, research analysts forecast that ONEOK, Inc. will post 4.98 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.55%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

About ONEOK

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.