2,478 Shares in ONEOK, Inc. (NYSE:OKE) Bought by Bay Capital Advisors LLC

Bay Capital Advisors LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,478 shares of the utilities provider’s stock, valued at approximately $249,000.

Several other large investors have also made changes to their positions in OKE. Raymond James Financial Inc. acquired a new position in ONEOK during the 4th quarter valued at about $182,694,000. Charles Schwab Investment Management Inc. lifted its stake in shares of ONEOK by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after purchasing an additional 934,007 shares during the period. GQG Partners LLC grew its position in shares of ONEOK by 217.2% during the 4th quarter. GQG Partners LLC now owns 1,235,012 shares of the utilities provider’s stock worth $123,995,000 after buying an additional 845,715 shares during the period. Vanguard Group Inc. increased its stake in ONEOK by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock valued at $7,040,075,000 after purchasing an additional 558,789 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in ONEOK during the 3rd quarter worth $47,957,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 3.0 %

Shares of NYSE OKE opened at $102.34 on Tuesday. The stock has a market cap of $63.89 billion, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. The firm has a 50 day moving average price of $98.91 and a two-hundred day moving average price of $99.99.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date was Monday, February 3rd. ONEOK’s payout ratio is presently 79.69%.

Wall Street Analyst Weigh In

OKE has been the topic of a number of research analyst reports. Barclays dropped their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Wells Fargo & Company cut their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Scotiabank cut their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Finally, Truist Financial increased their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $103.31.

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.