GW Henssler & Associates Ltd. Buys 1,242 Shares of ONEOK, Inc. (NYSE:OKE)
Posted by Matthew Steigler on Jan 25th, 2023
GW Henssler & Associates Ltd. boosted its stake in ONEOK, Inc. (NYSE:OKE – Get Rating) by 14.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,013 shares of the utilities provider's stock after acquiring an additional 1,242 shares during the period. GW Henssler & Associates Ltd.'s holdings in ONEOK were worth $513,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Command Bank lifted its stake in shares of ONEOK by 401.0% in the 2nd quarter. First Command Bank now owns 491 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 393 shares during the period. Worth Asset Management LLC acquired a new position in ONEOK in the first quarter valued at approximately $30,000. EdgeRock Capital LLC bought a new position in shares of ONEOK during the 3rd quarter worth approximately $31,000. Hallmark Capital Management Inc. acquired a new stake in shares of ONEOK during the 2nd quarter worth approximately $33,000. Finally, Heritage Wealth Advisors bought a new stake in shares of ONEOK in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 67.16% of the company's stock.
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ONEOK Price Performance
Shares of NYSE:OKE opened at $69.51 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.50 and a debt-to-equity ratio of 1.89. The stock has a market cap of $31.07 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.80 and a beta of 1.70. The stock's fifty day simple moving average is $66.18 and its two-hundred day simple moving average is $61.64. ONEOK, Inc. has a 1-year low of $50.50 and a 1-year high of $75.07.
ONEOK (NYSE:OKE – Get Rating) last released its quarterly earnings results on Tuesday, November 1st. The utilities provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. ONEOK had a net margin of 7.10% and a return on equity of 26.46%. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $6.52 billion. As a group, analysts forecast that ONEOK, Inc. will post 3.79 EPS for the current fiscal year.
ONEOK Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 14th. Stockholders of record on Monday, January 30th will be paid a $0.955 dividend. This represents a $3.82 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date of this dividend is Friday, January 27th. This is an increase from ONEOK's previous quarterly dividend of $0.94. ONEOK's payout ratio is presently 103.89%.
A number of equities research analysts have commented on OKE shares. Raymond James raised their price target on shares of ONEOK from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Monday. Barclays raised their target price on ONEOK from $59.00 to $71.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 18th. Citigroup initiated coverage on ONEOK in a report on Thursday, December 8th. They issued a "neutral" rating and a $67.00 price target on the stock. Truist Financial boosted their price objective on ONEOK from $69.00 to $73.00 and gave the company a "buy" rating in a report on Wednesday, December 21st. Finally, JPMorgan Chase & Co. raised ONEOK from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $71.00 to $75.00 in a research report on Tuesday, January 10th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, ONEOK has a consensus rating of "Hold" and an average target price of $71.30.
About ONEOK
ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.
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