MKT Advisors LLC Has $661,000 Stock Position in ONEOK, Inc. (NYSE:OKE)

MKT Advisors LLC reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 3.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,063 shares of the utilities provider’s stock after selling 209 shares during the quarter. MKT Advisors LLC’s holdings in ONEOK were worth $661,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kieckhefer Group LLC bought a new stake in shares of ONEOK during the fourth quarter worth $30,000. Matrix Trust Co acquired a new position in ONEOK in the third quarter valued at about $29,000. Access Investment Management LLC bought a new position in ONEOK during the third quarter worth about $37,000. Values First Advisors Inc. acquired a new position in shares of ONEOK during the 3rd quarter worth about $44,000. Finally, Fortitude Family Office LLC increased its stake in shares of ONEOK by 37.4% in the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 135 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on OKE. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a research note on Wednesday, December 18th. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Barclays boosted their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, Truist Financial lifted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.92.

ONEOK Price Performance

Shares of OKE opened at $104.42 on Friday. The company has a 50 day moving average of $106.00 and a 200-day moving average of $96.50. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $61.00 billion, a P/E ratio of 21.84, a P/E/G ratio of 4.03 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $67.05 and a twelve month high of $118.07.

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

ONEOK Increases Dividend

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

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.