KBC Group NV Boosts Stock Position in ONEOK, Inc. (NYSE:OKE)

KBC Group NV grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 7.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,556 shares of the utilities provider’s stock after purchasing an additional 3,173 shares during the quarter. KBC Group NV’s holdings in ONEOK were worth $4,875,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Astoria Portfolio Advisors LLC. raised its position in ONEOK by 4.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after acquiring an additional 96 shares during the period. Mutual Advisors LLC raised its holdings in shares of ONEOK by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after purchasing an additional 103 shares during the period. Morton Capital Management LLC CA lifted its stake in ONEOK by 1.4% in the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock valued at $734,000 after purchasing an additional 104 shares during the last quarter. HM Payson & Co. grew its holdings in ONEOK by 6.3% during the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after purchasing an additional 105 shares during the period. Finally, Bill Few Associates Inc. increased its position in ONEOK by 3.9% in the fourth quarter. Bill Few Associates Inc. now owns 2,773 shares of the utilities provider’s stock worth $278,000 after buying an additional 105 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

Shares of OKE opened at $99.91 on Friday. 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 50-day moving average price of $105.25 and a 200-day moving average price of $96.95. The company has a market cap of $58.36 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the prior year, the firm earned $0.99 EPS. As a group, equities analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a $1.03 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.12%. ONEOK’s payout ratio is 82.85%.

Analyst Ratings Changes

Several research analysts have recently weighed in on OKE shares. Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research note on Wednesday, December 18th. Truist Financial lifted their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Scotiabank assumed coverage on shares of ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. UBS Group lifted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.92.

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.