ONEOK, Inc. (NYSE:OKE) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 2.4% during the fourth quarter, HoldingsChannel reports. The firm owned 102,470 shares of the utilities provider’s stock after purchasing an additional 2,401 shares during the quarter. CIBC Asset Management Inc’s holdings in ONEOK were worth $10,288,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. National Pension Service increased its stake in ONEOK by 1.6% during the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after purchasing an additional 12,349 shares in the last quarter. Leavell Investment Management Inc. increased its stake in shares of ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after acquiring an additional 5,175 shares during the period. Nations Financial Group Inc. IA ADV increased its stake in shares of ONEOK by 11.1% in the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after acquiring an additional 5,451 shares during the period. FNY Investment Advisers LLC increased its stake in shares of ONEOK by 14,279.1% in the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after acquiring an additional 21,847 shares during the period. Finally, Kingswood Wealth Advisors LLC increased its stake in shares of ONEOK by 57.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after acquiring an additional 5,321 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

OKE opened at $98.57 on Wednesday. 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 company has a market cap of $57.58 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 3.67 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $71.50 and a 52-week high of $118.07. The firm’s fifty day simple moving average is $101.64 and its two-hundred day simple moving average is $98.38.

ONEOK Increases Dividend

The business 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 represents a $4.12 annualized dividend and a yield of 4.18%. 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 (DPR) is presently 86.19%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on OKE shares. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a research note on Wednesday, December 18th. UBS Group increased their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Scotiabank initiated coverage on shares of ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average target price of $103.92.

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.