Envestnet Portfolio Solutions Inc. Acquires 374 Shares of ONEOK, Inc. (NYSE:OKE)

Envestnet Portfolio Solutions Inc. boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 5.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,497 shares of the utilities provider’s stock after purchasing an additional 374 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in ONEOK were worth $753,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of OKE. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of ONEOK by 10.3% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 71,918 shares of the utilities provider’s stock valued at $6,554,000 after acquiring an additional 6,713 shares during the period. Nwam LLC purchased a new position in shares of ONEOK during the 3rd quarter worth approximately $224,000. Cerity Partners LLC raised its position in shares of ONEOK by 21.5% in the 3rd quarter. Cerity Partners LLC now owns 154,250 shares of the utilities provider’s stock worth $14,057,000 after acquiring an additional 27,305 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of ONEOK by 90.6% in the 3rd quarter. Kingsview Wealth Management LLC now owns 30,822 shares of the utilities provider’s stock valued at $2,809,000 after purchasing an additional 14,647 shares during the period. Finally, Larson Financial Group LLC boosted its position in shares of ONEOK by 3.9% during the third quarter. Larson Financial Group LLC now owns 30,049 shares of the utilities provider’s stock valued at $2,738,000 after purchasing an additional 1,131 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial increased their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Scotiabank cut their price objective on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Monday, February 10th. Finally, Citigroup began coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Trading Up 3.0 %

Shares of NYSE:OKE opened at $102.34 on Tuesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The company has a market cap of $63.89 billion, a P/E ratio of 21.41, a PEG ratio of 3.77 and a beta of 1.70. The stock’s fifty day moving average price is $98.91 and its 200-day moving average price is $99.99.

ONEOK (NYSE:OKE) last posted its earnings results 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. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

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

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.