Congress Wealth Management LLC DE Acquires 5,455 Shares of ONEOK, Inc. (NYSE:OKE)

Congress Wealth Management LLC DE raised its holdings in ONEOK, Inc. (NYSE:OKE) by 187.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,365 shares of the utilities provider’s stock after acquiring an additional 5,455 shares during the quarter. Congress Wealth Management LLC DE’s holdings in ONEOK were worth $840,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of ONEOK by 0.8% in the fourth 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 during the last quarter. Charles Schwab Investment Management Inc. grew its stake in 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 in the last quarter. Geode Capital Management LLC increased its position in shares of ONEOK by 1.0% during the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after acquiring an additional 138,430 shares during the period. Amundi increased its position in shares of ONEOK by 5.3% during the fourth quarter. Amundi now owns 4,105,596 shares of the utilities provider’s stock worth $422,261,000 after acquiring an additional 207,324 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of ONEOK by 0.3% in the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after purchasing an additional 11,189 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 2.5 %

Shares of NYSE:OKE opened at $98.76 on Friday. The business’s 50-day moving average is $98.53 and its 200 day moving average is $100.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The firm has a market capitalization of $61.66 billion, a P/E ratio of 20.66, a P/E/G ratio of 3.77 and a beta of 1.70.

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

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.17%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio is presently 79.69%.

Analysts Set New Price Targets

Several research analysts have commented on OKE shares. Barclays reduced their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Morgan Stanley lifted their price objective on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday. Scotiabank dropped their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Citigroup initiated coverage on shares of ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price target for the company. Finally, Wells Fargo & Company dropped their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Seven research 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 stock. According to MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.

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.