Howe & Rusling Inc. Raises Stake in ONEOK, Inc. (NYSE:OKE)

Howe & Rusling Inc. raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 2.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 12,241 shares of the utilities provider’s stock after buying an additional 244 shares during the quarter. Howe & Rusling Inc.’s holdings in ONEOK were worth $1,229,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in OKE. NEOS Investment Management LLC lifted its position in 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 during the period. UniSuper Management Pty Ltd raised its holdings in ONEOK by 20.4% during the fourth quarter. UniSuper Management Pty Ltd now owns 43,486 shares of the utilities provider’s stock valued at $4,366,000 after acquiring an additional 7,379 shares during the period. Elo Mutual Pension Insurance Co lifted its holdings in ONEOK by 12.7% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 58,053 shares of the utilities provider’s stock worth $5,829,000 after purchasing an additional 6,533 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of ONEOK by 10.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 923,670 shares of the utilities provider’s stock worth $95,046,000 after acquiring an additional 86,056 shares during the last quarter. Finally, Ausdal Financial Partners Inc. grew its position in shares of ONEOK by 24.3% during the fourth quarter. Ausdal Financial Partners Inc. now owns 7,981 shares of the utilities provider’s stock valued at $801,000 after purchasing an additional 1,562 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Truist Financial boosted their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Morgan Stanley raised their price objective on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday. 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. Finally, 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. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $105.00.

ONEOK Trading Down 1.1 %

Shares of NYSE:OKE opened at $101.22 on Thursday. The firm has a market capitalization of $63.20 billion, a P/E ratio of 21.18, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The business’s 50-day moving average is $98.72 and its 200 day moving average is $100.08.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 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.