Blair William & Co. IL Acquires 7,246 Shares of ONEOK, Inc. (NYSE:OKE)

Blair William & Co. IL raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 5.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 147,224 shares of the utilities provider’s stock after acquiring an additional 7,246 shares during the period. Blair William & Co. IL’s holdings in ONEOK were worth $14,781,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in OKE. Howe & Rusling Inc. grew its stake in ONEOK by 2.0% during the fourth quarter. Howe & Rusling Inc. now owns 12,241 shares of the utilities provider’s stock valued at $1,229,000 after acquiring an additional 244 shares in the last quarter. NEOS Investment Management LLC grew its position in shares of ONEOK by 31.4% during the fourth quarter. NEOS Investment Management LLC now owns 35,995 shares of the utilities provider’s stock valued at $3,614,000 after purchasing an additional 8,609 shares in the last quarter. UniSuper Management Pty Ltd lifted its position in shares of ONEOK by 20.4% in the fourth quarter. UniSuper Management Pty Ltd now owns 43,486 shares of the utilities provider’s stock worth $4,366,000 after buying an additional 7,379 shares in the last quarter. Elo Mutual Pension Insurance Co boosted its stake in ONEOK by 12.7% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 58,053 shares of the utilities provider’s stock valued at $5,829,000 after buying an additional 6,533 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in ONEOK by 10.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 923,670 shares of the utilities provider’s stock valued at $95,046,000 after buying an additional 86,056 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of research reports. Wells Fargo & Company lowered their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Scotiabank dropped their price objective on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Barclays reduced their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Truist Financial lifted their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Finally, Citigroup started coverage on ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

ONEOK Stock Down 0.2 %

NYSE:OKE opened at $98.47 on Friday. The company has a market cap of $61.48 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $76.23 and a twelve 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. The stock has a fifty day simple moving average of $98.32 and a 200-day simple moving average of $100.11.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.18%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

About ONEOK

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.