BankPlus Trust Department Takes $2.47 Million Position in ONEOK, Inc. (NYSE:OKE)

BankPlus Trust Department acquired a new stake in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,552 shares of the utilities provider’s stock, valued at approximately $2,465,000. ONEOK comprises approximately 0.8% of BankPlus Trust Department’s holdings, making the stock its 23rd biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of OKE. Crestwood Advisors Group LLC grew its position in shares of ONEOK by 5.0% during the 4th quarter. Crestwood Advisors Group LLC now owns 8,050 shares of the utilities provider’s stock valued at $808,000 after buying an additional 380 shares during the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of ONEOK by 193.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 38,249 shares of the utilities provider’s stock worth $3,840,000 after purchasing an additional 25,206 shares during the period. World Equity Group Inc. bought a new stake in shares of ONEOK in the 4th quarter worth approximately $261,000. MONECO Advisors LLC boosted its position in ONEOK by 4.4% during the 4th quarter. MONECO Advisors LLC now owns 5,919 shares of the utilities provider’s stock valued at $594,000 after purchasing an additional 251 shares during the period. Finally, Howard Capital Management Inc. grew its stake in ONEOK by 3.5% during the 4th quarter. Howard Capital Management Inc. now owns 5,671 shares of the utilities provider’s stock worth $569,000 after buying an additional 194 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Scotiabank started coverage on ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price on the stock. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a research note on Wednesday, December 18th. Truist Financial increased their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Finally, Barclays initiated coverage on shares of ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $103.92.

ONEOK Stock Performance

ONEOK stock opened at $98.07 on Monday. The stock has a market capitalization of $57.29 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 12-month low of $72.44 and a 12-month high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a 50-day simple moving average of $101.19 and a 200 day simple moving average of $98.87.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.20%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 86.19%.

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.