CreativeOne Wealth LLC Increases Stock Position in ONEOK, Inc. (NYSE:OKE)

CreativeOne Wealth LLC raised its stake in ONEOK, Inc. (NYSE:OKE) by 44.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,242 shares of the utilities provider’s stock after buying an additional 6,881 shares during the period. CreativeOne Wealth LLC’s holdings in ONEOK were worth $1,783,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in ONEOK by 21.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,408,725 shares of the utilities provider’s stock worth $871,341,000 after purchasing an additional 2,153,295 shares during the last quarter. Northern Trust Corp increased its holdings in shares of ONEOK by 1.5% in the fourth quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock worth $404,055,000 after buying an additional 85,736 shares during the period. Norges Bank purchased a new stake in ONEOK during the 4th quarter valued at about $297,948,000. Kayne Anderson Capital Advisors LP lifted its position in ONEOK by 28.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after purchasing an additional 825,464 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its position in ONEOK by 12.3% in the first quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock valued at $277,795,000 after purchasing an additional 378,509 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE OKE traded up $0.85 during midday trading on Friday, hitting $82.25. 564,893 shares of the stock traded hands, compared to its average volume of 2,748,228. The firm has a market capitalization of $48.00 billion, a P/E ratio of 19.10, a PEG ratio of 4.35 and a beta of 1.65. ONEOK, Inc. has a one year low of $60.58 and a one year high of $86.20. 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 firm has a 50-day moving average of $81.40 and a two-hundred day moving average of $77.52.

ONEOK (NYSE:OKE) last announced its earnings results 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. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The company had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period in the previous year, the business posted $2.34 earnings per share. On average, equities analysts forecast that ONEOK, Inc. will post 5.01 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend is Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Stifel Nicolaus lifted their target price on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Tudor Pickering raised ONEOK to a “hold” rating in a research report on Thursday, July 18th. Morgan Stanley increased their price objective on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a report on Monday, June 10th. JPMorgan Chase & Co. boosted their target price on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Finally, StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $84.83.

ONEOK Company 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.