Proficio Capital Partners LLC Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Proficio Capital Partners LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 2,573 shares of the utilities provider’s stock, valued at approximately $258,000.

A number of other institutional investors have also made changes to their positions in OKE. Kieckhefer Group LLC acquired a new position in ONEOK in the 4th quarter worth $30,000. Canton Hathaway LLC purchased a new stake in shares of ONEOK during the fourth quarter worth about $40,000. J.Safra Asset Management Corp acquired a new position in shares of ONEOK in the fourth quarter worth about $48,000. Versant Capital Management Inc boosted its holdings in ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 260 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in ONEOK during the 3rd quarter valued at approximately $57,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley upped their target price on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Citigroup initiated coverage on shares of ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 target price for the company. Truist Financial increased their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Finally, Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Stock Down 1.1 %

NYSE:OKE opened at $101.22 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a 50 day moving average of $98.72 and a 200-day moving average of $100.08. The firm has a market capitalization of $63.20 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping 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 firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. Analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders 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 yield of 4.07%. 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 payout ratio is presently 79.69%.

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.