Red Door Wealth Management LLC Boosts Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Red Door Wealth Management LLC increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,468 shares of the utilities provider’s stock after buying an additional 181 shares during the period. Red Door Wealth Management LLC’s holdings in ONEOK were worth $1,453,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board lifted its position in shares of ONEOK by 37.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 53,591 shares of the utilities provider’s stock valued at $4,370,000 after buying an additional 14,505 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in ONEOK by 72.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,687 shares of the utilities provider’s stock valued at $224,000 after purchasing an additional 1,133 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of ONEOK during the second quarter worth about $16,046,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of ONEOK by 60.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 111,685 shares of the utilities provider’s stock worth $9,108,000 after purchasing an additional 42,133 shares during the last quarter. Finally, Fred Alger Management LLC lifted its stake in ONEOK by 6.1% in the 2nd quarter. Fred Alger Management LLC now owns 40,470 shares of the utilities provider’s stock valued at $3,300,000 after buying an additional 2,336 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the subject of a number of research analyst reports. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Scotiabank started coverage on ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada upped their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.

ONEOK Price Performance

ONEOK stock opened at $104.91 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 52-week low of $67.05 and a 52-week high of $118.07. The firm has a market cap of $61.29 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70. The company’s 50 day moving average is $106.17 and its two-hundred day moving average is $96.28.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter last year, the business posted $0.99 earnings per share. On average, research analysts expect that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. The ex-dividend date is Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.93%. ONEOK’s payout ratio is currently 82.85%.

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.