ONEOK, Inc. (NYSE:OKE) Shares Bought by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 7.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,044,615 shares of the utilities provider’s stock after purchasing an additional 71,556 shares during the period. Bahl & Gaynor Inc. owned about 0.18% of ONEOK worth $104,879,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of OKE. Charles Schwab Investment Management Inc. raised its position in shares of ONEOK by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after acquiring an additional 934,007 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in ONEOK during the third quarter valued at $47,957,000. National Pension Service raised its holdings in shares of ONEOK by 65.3% during the fourth quarter. National Pension Service now owns 1,262,741 shares of the utilities provider’s stock worth $126,779,000 after purchasing an additional 498,908 shares during the period. Yaupon Capital Management LP bought a new position in shares of ONEOK in the 3rd quarter worth about $45,194,000. Finally, Strategic Financial Concepts LLC boosted its holdings in shares of ONEOK by 10,153.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock valued at $49,662,000 after buying an additional 489,821 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Truist Financial boosted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Scotiabank initiated coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective for the company. Finally, Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.15.

ONEOK Stock Down 3.8 %

OKE stock opened at $96.57 on Tuesday. The firm’s 50-day moving average is $100.83 and its two-hundred day moving average is $99.35. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $60.29 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $75.69 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings results 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 firm had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. On average, analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.27%. ONEOK’s payout ratio is 79.69%.

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.