ONEOK, Inc. (NYSE:OKE) Shares Acquired by Marcum Wealth LLC

Marcum Wealth LLC grew its stake in ONEOK, Inc. (NYSE:OKE) by 2.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,310 shares of the utilities provider’s stock after acquiring an additional 265 shares during the quarter. Marcum Wealth LLC’s holdings in ONEOK were worth $746,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hilltop Holdings Inc. increased its stake in shares of ONEOK by 7.3% in the 4th quarter. Hilltop Holdings Inc. now owns 16,525 shares of the utilities provider’s stock worth $1,160,000 after acquiring an additional 1,124 shares during the last quarter. Fifth Third Bancorp increased its position in shares of ONEOK by 16.2% during the 4th quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock worth $1,531,000 after purchasing an additional 3,032 shares during the last quarter. Kestra Private Wealth Services LLC increased its position in shares of ONEOK by 26.6% during the 4th quarter. Kestra Private Wealth Services LLC now owns 24,568 shares of the utilities provider’s stock worth $1,725,000 after purchasing an additional 5,167 shares during the last quarter. ELCO Management Co. LLC increased its position in shares of ONEOK by 102.3% during the 3rd quarter. ELCO Management Co. LLC now owns 26,432 shares of the utilities provider’s stock worth $1,677,000 after purchasing an additional 13,367 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of ONEOK by 31.6% during the 4th quarter. Federated Hermes Inc. now owns 160,596 shares of the utilities provider’s stock worth $11,277,000 after purchasing an additional 38,560 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of OKE opened at $79.88 on Friday. The stock has a 50-day simple moving average of $79.86 and a 200-day simple moving average of $75.30. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The stock has a market capitalization of $46.62 billion, a PE ratio of 18.58, a PEG ratio of 4.35 and a beta of 1.65. ONEOK, Inc. has a 1 year low of $57.37 and a 1 year high of $83.31.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. The business had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same quarter last year, the business posted $2.34 EPS. On average, analysts predict that ONEOK, Inc. will post 4.94 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.96%. The ex-dividend date was Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on ONEOK from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Wells Fargo & Company raised their price objective on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Citigroup raised their price objective on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Morgan Stanley raised their target price on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Monday, June 10th. Finally, Stifel Nicolaus raised their target price on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK presently has a consensus rating of “Hold” and an average price target of $84.25.

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.