HB Wealth Management LLC Buys 559 Shares of ONEOK, Inc. (NYSE:OKE)

Posted by on Apr 1st, 2023

HB Wealth Management LLC lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE – Get Rating) by 8.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,173 shares of the utilities provider’s stock after buying an additional 559 shares during the period. HB Wealth Management LLC’s holdings in ONEOK were worth $471,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of OKE. Cowa LLC boosted its position in shares of ONEOK by 9,775.0% during the first quarter. Cowa LLC now owns 5,324,428 shares of the utilities provider’s stock valued at $3,761,000 after buying an additional 5,270,510 shares during the last quarter. Vanguard Group Inc. boosted its position in ONEOK by 2.1% in the first quarter. Vanguard Group Inc. now owns 51,774,594 shares of the utilities provider’s stock worth $3,656,839,000 after purchasing an additional 1,043,147 shares during the last quarter. Macquarie Group Ltd. boosted its position in ONEOK by 438.2% in the second quarter. Macquarie Group Ltd. now owns 1,001,030 shares of the utilities provider’s stock worth $41,292,000 after purchasing an additional 815,023 shares during the last quarter. Legal & General Group Plc boosted its position in ONEOK by 16.6% in the second quarter. Legal & General Group Plc now owns 4,269,008 shares of the utilities provider’s stock worth $236,930,000 after purchasing an additional 607,191 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its position in ONEOK by 266.7% in the first quarter. Ensign Peak Advisors Inc now owns 802,200 shares of the utilities provider’s stock worth $56,659,000 after purchasing an additional 583,454 shares during the last quarter. 67.16% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Up 1.6 %

Shares of OKE opened at $63.54 on Friday. The business’s 50 day moving average is $65.99 and its 200 day moving average is $63.34. The company has a market capitalization of $28.42 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 1.35 and a beta of 1.68. ONEOK, Inc. has a 12-month low of $50.50 and a 12-month high of $75.07. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.96.

ONEOK (NYSE:OKE – Get Rating) last issued its earnings results on Monday, February 27th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.06. The company had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $6.03 billion. ONEOK had a return on equity of 27.65% and a net margin of 7.69%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. Research analysts expect that ONEOK, Inc. will post 5.25 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 14th. Shareholders of record on Monday, January 30th were paid a $0.955 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Friday, January 27th. This represents a $3.82 dividend on an annualized basis and a yield of 6.01%. ONEOK’s payout ratio is presently 99.74%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OKE. Truist Financial raised their target price on ONEOK from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, December 21st. StockNews.com began coverage on ONEOK in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Citigroup started coverage on ONEOK in a research report on Thursday, December 8th. They issued a “neutral” rating and a $67.00 target price on the stock. Scotiabank started coverage on ONEOK in a research report on Thursday, March 2nd. They set a “sector perform” rating and a $74.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on ONEOK from $70.00 to $81.00 and gave the company an “equal weight” rating in a research report on Monday, January 9th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.44.

ONEOK Profile

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ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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