DnB Asset Management AS Raises Position in ONEOK, Inc. (NYSE:OKE)

DnB Asset Management AS grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 3.8% during the fourth quarter, Holdings Channel reports. The fund owned 112,881 shares of the utilities provider’s stock after purchasing an additional 4,138 shares during the period. DnB Asset Management AS’s holdings in ONEOK were worth $11,333,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OKE. Norges Bank bought a new position in ONEOK in the fourth quarter worth $539,554,000. Raymond James Financial Inc. purchased a new stake in shares of ONEOK in the 4th quarter worth about $182,694,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of ONEOK by 445.4% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider’s stock worth $153,319,000 after acquiring an additional 1,246,963 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in 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 during the period. Finally, GQG Partners LLC grew its holdings in ONEOK by 217.2% in the fourth quarter. GQG Partners LLC now owns 1,235,012 shares of the utilities provider’s stock worth $123,995,000 after purchasing an additional 845,715 shares during the period. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on OKE shares. Morgan Stanley lifted their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Barclays dropped their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. 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, Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. Seven equities 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $105.00.

ONEOK Trading Down 0.2 %

NYSE:OKE opened at $98.47 on Friday. The company has a market cap of $61.48 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. 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 50 day simple moving average of $98.32 and a two-hundred day simple moving average of $100.17. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS 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 analysts’ expectations of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently announced 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 a boost 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 currently 79.69%.

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.