Wealth Enhancement Advisory Services LLC Purchases 22,121 Shares of ONEOK, Inc. (NYSE:OKE)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 10.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 240,665 shares of the utilities provider's stock after purchasing an additional 22,121 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in ONEOK were worth $24,163,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OKE. Greenline Partners LLC bought a new position in ONEOK during the fourth quarter worth about $32,000. Vermillion Wealth Management Inc. bought a new position in shares of ONEOK in the fourth quarter valued at approximately $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of ONEOK in the fourth quarter valued at approximately $39,000. Canton Hathaway LLC bought a new position in shares of ONEOK in the fourth quarter valued at approximately $40,000. Finally, J.Safra Asset Management Corp bought a new position in shares of ONEOK in the fourth quarter valued at approximately $48,000. Institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

Shares of OKE stock traded up $0.76 during trading hours on Tuesday, hitting $83.27. 3,901,988 shares of the company's stock were exchanged, compared to its average volume of 3,311,456. The company has a market capitalization of $52.01 billion, a PE ratio of 17.42, a PEG ratio of 3.77 and a beta of 1.01. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07. The business's 50 day simple moving average is $84.57 and its 200-day simple moving average is $95.91. 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 - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $8.23 billion. During the same period last year, the business posted $1.09 earnings per share. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.95%. The ex-dividend date was Monday, May 5th. ONEOK's dividend payout ratio is 80.47%.

Analyst Ratings Changes

A number of research firms have recently commented on OKE. Scotiabank cut their price objective on shares of ONEOK from $100.00 to $96.00 and set a "sector outperform" rating for the company in a research report on Tuesday, May 20th. US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a research note on Monday, February 10th. Morgan Stanley raised their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Finally, Stifel Nicolaus lowered their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ONEOK presently has an average rating of "Moderate Buy" and an average target price of $103.92.

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.