OneAscent Financial Services LLC Increases Stake in ONEOK, Inc. (NYSE:OKE)

OneAscent Financial Services LLC raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 116.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,517 shares of the utilities provider’s stock after buying an additional 4,044 shares during the quarter. OneAscent Financial Services LLC’s holdings in ONEOK were worth $755,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. FNY Investment Advisers LLC boosted its stake in ONEOK by 14,279.1% during the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after buying an additional 21,847 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock valued at $1,456,000 after acquiring an additional 5,321 shares during the last quarter. Simon Quick Advisors LLC acquired a new position in shares of ONEOK during the 4th quarter valued at about $251,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of ONEOK by 9.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider’s stock valued at $155,038,000 after purchasing an additional 136,071 shares during the period. Finally, Contravisory Investment Management Inc. acquired a new stake in ONEOK during the fourth quarter worth about $9,483,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of OKE opened at $100.51 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07. The company has a market cap of $62.75 billion, a P/E ratio of 21.03, a PEG ratio of 3.77 and a beta of 1.70. The firm’s 50 day moving average price is $97.80 and its 200 day moving average price is $100.36.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. On average, research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.10%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio is presently 79.69%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price target 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 note on Monday, February 3rd. Citigroup started coverage on ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 target price on the stock. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Monday, February 10th. Finally, Morgan Stanley boosted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $105.00.

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.