Ausdal Financial Partners Inc. Buys 1,562 Shares of ONEOK, Inc. (NYSE:OKE)

Ausdal Financial Partners Inc. increased its position in ONEOK, Inc. (NYSE:OKE) by 24.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,981 shares of the utilities provider’s stock after buying an additional 1,562 shares during the period. Ausdal Financial Partners Inc.’s holdings in ONEOK were worth $801,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in ONEOK during the fourth quarter worth $182,694,000. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of ONEOK by 445.4% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider’s stock worth $153,319,000 after acquiring an additional 1,246,963 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of ONEOK by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after acquiring an additional 934,007 shares during the last quarter. GQG Partners LLC boosted its stake in ONEOK by 217.2% during the 4th quarter. GQG Partners LLC now owns 1,235,012 shares of the utilities provider’s stock valued at $123,995,000 after purchasing an additional 845,715 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in ONEOK by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock worth $7,040,075,000 after purchasing an additional 558,789 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Down 1.1 %

ONEOK stock opened at $101.22 on Thursday. The firm has a market capitalization of $63.20 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 3.77 and a beta of 1.70. The firm has a 50 day simple moving average of $98.72 and a 200 day simple moving average of $100.08. ONEOK, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. On average, analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.07%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 79.69%.

Analysts Set New Price Targets

Several research analysts recently issued reports on OKE shares. Morgan Stanley lifted their target price on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday. Citigroup began coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 target price for the company. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company reduced their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Finally, Truist Financial lifted their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

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.