WCG Wealth Advisors LLC Buys 32,809 Shares of ONEOK, Inc. (NYSE:OKE)

WCG Wealth Advisors LLC increased its position in ONEOK, Inc. (NYSE:OKE) by 109.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,698 shares of the utilities provider’s stock after acquiring an additional 32,809 shares during the quarter. WCG Wealth Advisors LLC’s holdings in ONEOK were worth $5,113,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of ONEOK during the fourth quarter worth about $297,948,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in ONEOK by 91.6% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 22,125 shares of the utilities provider’s stock worth $1,554,000 after buying an additional 10,580 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of ONEOK by 28.8% in the 4th quarter. Corient Private Wealth LLC now owns 158,844 shares of the utilities provider’s stock worth $11,154,000 after buying an additional 35,518 shares during the last quarter. CreativeOne Wealth LLC raised its position in shares of ONEOK by 25.3% during the 4th quarter. CreativeOne Wealth LLC now owns 15,361 shares of the utilities provider’s stock valued at $1,078,000 after buying an additional 3,099 shares in the last quarter. Finally, Keystone Financial Group bought a new stake in shares of ONEOK during the 4th quarter worth $208,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $93.90 on Thursday. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The company has a market cap of $54.84 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 4.49 and a beta of 1.67. ONEOK, Inc. has a 12 month low of $60.58 and a 12 month high of $95.26. The company has a 50-day moving average price of $86.83 and a 200-day moving average price of $82.22.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter in the prior year, the company posted $1.04 EPS. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 4.22%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on OKE. Royal Bank of Canada raised their price target on ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $103.00 to $111.00 in a research report on Monday. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. Scotiabank boosted their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Finally, Truist Financial upped their price objective on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $92.38.

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.