RFG Advisory LLC Has $2.32 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

RFG Advisory LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,061 shares of the utilities provider’s stock after selling 1,182 shares during the quarter. RFG Advisory LLC’s holdings in ONEOK were worth $2,315,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in ONEOK by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after buying an additional 661,854 shares in the last quarter. Geode Capital Management LLC grew its holdings in ONEOK by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after buying an additional 138,430 shares in the last quarter. Janus Henderson Group PLC grew its holdings in ONEOK by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after buying an additional 11,189 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares in the last quarter. Finally, abrdn plc grew its holdings in shares of ONEOK by 14.8% during the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock worth $195,545,000 after purchasing an additional 277,514 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Price Performance

ONEOK stock opened at $104.42 on Friday. 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 has a market capitalization of $61.00 billion, a PE ratio of 21.84, a P/E/G ratio of 4.03 and a beta of 1.70. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07. The stock has a 50-day moving average price of $106.11 and a two-hundred day moving average price of $96.34.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the prior year, the business posted $0.99 earnings per share. Analysts expect that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a $1.03 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 3.95%. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

Analyst Ratings Changes

OKE has been the topic of several analyst reports. Bank of America initiated coverage on ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price on the stock. UBS Group increased their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada increased their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Finally, Truist Financial raised their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average target price of $102.92.

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.