Bank of Stockton Buys New Position in ONEOK, Inc. (NYSE:OKE)

Bank of Stockton bought a new stake in ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,312 shares of the utilities provider’s stock, valued at approximately $232,000.

Several other institutional investors have also added to or reduced their stakes in OKE. International Assets Investment Management LLC boosted its holdings in ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after acquiring an additional 3,197,121 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after acquiring an additional 661,854 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in ONEOK in the third quarter valued at approximately $47,957,000. Yaupon Capital Management LP bought a new stake in ONEOK in the third quarter valued at approximately $45,194,000. Finally, Strategic Financial Concepts LLC boosted its holdings in ONEOK by 10,153.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock valued at $49,662,000 after acquiring an additional 489,821 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. 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 report on Monday, February 10th. Truist Financial increased their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Barclays assumed coverage on ONEOK in a report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price target on the stock. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, UBS Group increased their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Seven research 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, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $103.92.

ONEOK Trading Down 0.6 %

NYSE OKE opened at $98.65 on Friday. The firm has a market capitalization of $57.63 billion, a P/E ratio of 20.64, a PEG ratio of 3.80 and a beta of 1.70. The business has a fifty day simple moving average of $101.31 and a 200 day simple moving average of $98.51. ONEOK, Inc. has a 12 month low of $71.85 and a 12 month 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.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $1.03 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio is presently 86.19%.

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.