LifeWealth Investments LLC Makes New Investment in ONEOK, Inc. (NYSE:OKE)

LifeWealth Investments LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,467 shares of the utilities provider's stock, valued at approximately $348,000.

Several other institutional investors have also recently made changes to their positions in the stock. Kingswood Wealth Advisors LLC grew its holdings in ONEOK by 57.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider's stock worth $1,456,000 after purchasing an additional 5,321 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of ONEOK by 9.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider's stock valued at $155,038,000 after buying an additional 136,071 shares in the last quarter. Cinctive Capital Management LP acquired a new stake in shares of ONEOK in the fourth quarter valued at approximately $19,909,000. Americana Partners LLC raised its position in ONEOK by 258.6% during the fourth quarter. Americana Partners LLC now owns 271,836 shares of the utilities provider's stock valued at $27,292,000 after purchasing an additional 196,038 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC bought a new stake in shares of ONEOK during the fourth quarter worth $34,360,000. Institutional investors and hedge funds own 69.13% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on OKE shares. Morgan Stanley upped their target price on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Barclays cut their price target on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. Citigroup cut their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company cut their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $104.69.

ONEOK Stock Performance

ONEOK stock traded down $0.00 during midday trading on Thursday, reaching $80.59. The stock had a trading volume of 3,399,058 shares, compared to its average volume of 3,287,702. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The firm's 50-day moving average price is $86.12 and its 200 day moving average price is $96.74. The firm has a market capitalization of $50.34 billion, a PE ratio of 16.86, a P/E/G ratio of 3.77 and a beta of 1.01. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. As a group, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a dividend of $1.03 per share. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 5.11%. ONEOK's dividend payout ratio is currently 80.47%.

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.