Prudential Financial Inc. Has $32.68 Million Stake in ONEOK, Inc. (NYSE:OKE)

Prudential Financial Inc. lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 13.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 325,495 shares of the utilities provider’s stock after selling 51,907 shares during the period. Prudential Financial Inc. owned 0.06% of ONEOK worth $32,680,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in OKE. Nwam LLC bought a new stake in shares of ONEOK in the third quarter valued at about $224,000. Cerity Partners LLC raised its stake in ONEOK by 21.5% in the 3rd quarter. Cerity Partners LLC now owns 154,250 shares of the utilities provider’s stock worth $14,057,000 after purchasing an additional 27,305 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in ONEOK by 23.4% in the 3rd quarter. Summit Trail Advisors LLC now owns 8,640 shares of the utilities provider’s stock valued at $787,000 after purchasing an additional 1,637 shares during the period. Daiwa Securities Group Inc. grew its position in shares of ONEOK by 9.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 84,908 shares of the utilities provider’s stock worth $7,737,000 after purchasing an additional 7,280 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of ONEOK during the third quarter worth approximately $990,000. 69.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OKE has been the subject of several recent research reports. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Truist Financial upped their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Morgan Stanley raised their price target on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday. Scotiabank cut 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 report on Thursday, March 6th. Finally, Barclays decreased 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. 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 stock. According to data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Trading Up 0.1 %

NYSE OKE opened at $102.42 on Wednesday. The company has a market cap of $63.94 billion, a price-to-earnings ratio of 21.43, 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 quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The business’s fifty day moving average is $98.84 and its 200 day moving average is $100.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.02%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio is presently 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.