Oxler Private Wealth LLC Increases Stake in ONEOK, Inc. (NYSE:OKE)

Oxler Private Wealth LLC boosted its stake in ONEOK, Inc. (NYSE:OKE) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,156 shares of the utilities provider’s stock after buying an additional 427 shares during the period. ONEOK accounts for approximately 1.6% of Oxler Private Wealth LLC’s portfolio, making the stock its 19th largest position. Oxler Private Wealth LLC’s holdings in ONEOK were worth $4,734,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after purchasing an additional 661,854 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of ONEOK by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after buying an additional 138,430 shares during the last quarter. Janus Henderson Group PLC increased its position in ONEOK by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after buying an additional 11,189 shares in the last quarter. International Assets Investment Management LLC raised its stake in ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after buying an additional 3,197,121 shares during the last quarter. Finally, abrdn plc boosted its holdings in ONEOK by 14.8% in the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock worth $195,545,000 after acquiring an additional 277,514 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Down 2.9 %

OKE stock opened at $96.95 on Friday. The company has a market cap of $56.64 billion, a price-to-earnings ratio of 20.28, a P/E/G ratio of 3.81 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The business’s 50-day moving average is $104.92 and its two-hundred day moving average is $96.97. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the company earned $0.99 EPS. As a group, analysts forecast that ONEOK, Inc. will post 5.09 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a $1.03 dividend. 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 annualized dividend and a yield of 4.25%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OKE. Scotiabank assumed coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target for the company. Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Barclays upped their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. UBS Group raised their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.92.

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.