American Century Companies Inc. Purchases 150,484 Shares of ONEOK, Inc. (NYSE:OKE)

American Century Companies Inc. raised its position in ONEOK, Inc. (NYSE:OKE) by 20.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 889,423 shares of the utilities provider’s stock after purchasing an additional 150,484 shares during the period. American Century Companies Inc.’s holdings in ONEOK were worth $89,298,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OKE. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in ONEOK by 10.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 71,918 shares of the utilities provider’s stock valued at $6,554,000 after purchasing an additional 6,713 shares during the period. Nwam LLC purchased a new position in shares of ONEOK in the 3rd quarter worth about $224,000. Cerity Partners LLC grew its position in ONEOK by 21.5% during the third quarter. Cerity Partners LLC now owns 154,250 shares of the utilities provider’s stock valued at $14,057,000 after buying an additional 27,305 shares during the period. Kingsview Wealth Management LLC increased its holdings in ONEOK by 90.6% during the third quarter. Kingsview Wealth Management LLC now owns 30,822 shares of the utilities provider’s stock worth $2,809,000 after buying an additional 14,647 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in ONEOK by 3.9% in the third quarter. Larson Financial Group LLC now owns 30,049 shares of the utilities provider’s stock worth $2,738,000 after acquiring an additional 1,131 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

ONEOK stock opened at $102.34 on Tuesday. ONEOK, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07. 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 firm has a market capitalization of $63.89 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The firm’s 50 day simple moving average is $98.91 and its 200 day simple moving average is $99.99.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, analysts expect 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. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 79.69%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research report on Monday, February 10th. Truist Financial increased their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Citigroup initiated coverage on ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 price target on the stock. Wells Fargo & Company cut their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Finally, Scotiabank lowered their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Seven 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $103.31.

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.