Janney Montgomery Scott LLC Purchases 2,976 Shares of ONEOK, Inc. (NYSE:OKE)

Posted by on Apr 21st, 2023

Janney Montgomery Scott LLC increased its position in shares of ONEOK, Inc. (NYSE:OKE – Get Rating) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 106,027 shares of the utilities provider’s stock after buying an additional 2,976 shares during the quarter. Janney Montgomery Scott LLC’s holdings in ONEOK were worth $6,966,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. MinichMacGregor Wealth Management LLC bought a new position in ONEOK in the fourth quarter valued at approximately $29,000. Worth Asset Management LLC bought a new position in ONEOK in the first quarter valued at approximately $30,000. First Command Bank grew its stake in ONEOK by 401.0% in the second quarter. First Command Bank now owns 491 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 393 shares in the last quarter. RFP Financial Group LLC bought a new position in ONEOK in the fourth quarter valued at approximately $39,000. Finally, CI Investments Inc. grew its stake in ONEOK by 1,003.7% in the third quarter. CI Investments Inc. now owns 596 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 542 shares in the last quarter. 67.16% of the stock is currently owned by institutional investors.

ONEOK Price Performance

Shares of NYSE OKE opened at $66.05 on Friday. The stock has a market capitalization of $29.55 billion, a PE ratio of 17.25, a P/E/G ratio of 1.46 and a beta of 1.68. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.83 and a quick ratio of 0.64. The business has a fifty day moving average price of $65.27 and a two-hundred day moving average price of $64.24. ONEOK, Inc. has a fifty-two week low of $50.50 and a fifty-two week high of $75.07.

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

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Monday, May 1st will be paid a $0.955 dividend. This represents a $3.82 annualized dividend and a dividend yield of 5.78%. ONEOK’s payout ratio is 99.74%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Morgan Stanley raised their price target on ONEOK from $70.00 to $81.00 and gave the company an “equal weight” rating in a research note on Monday, January 9th. Mizuho raised their price objective on ONEOK from $66.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, March 2nd. Raymond James raised their price objective on ONEOK from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, January 23rd. Barclays cut their price objective on ONEOK from $71.00 to $70.00 in a research report on Tuesday. Finally, Seaport Res Ptn reaffirmed a “neutral” rating on shares of ONEOK in a research report on Thursday, February 16th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and a consensus price target of $74.73.

ONEOK Company 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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