Mainsail Asset Management LLC Purchases New Stake in ONEOK, Inc. (NYSE:OKE)

Mainsail Asset Management LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,043 shares of the utilities provider’s stock, valued at approximately $205,000.

A number of other institutional investors have also modified their holdings of OKE. Charles Schwab Investment Management Inc. lifted its stake in ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of ONEOK by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after buying an additional 138,430 shares during the period. Janus Henderson Group PLC grew its position in shares of ONEOK by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after buying an additional 11,189 shares during the last quarter. International Assets Investment Management LLC raised its stake in ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after acquiring an additional 3,197,121 shares during the period. Finally, abrdn plc lifted its holdings in ONEOK by 14.8% in the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock worth $195,545,000 after acquiring an additional 277,514 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OKE shares. Barclays began coverage on ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price target on the stock. Scotiabank assumed coverage on ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price on the stock. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Monday, February 10th. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Finally, UBS Group raised their price target 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. 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Stock Performance

Shares of OKE opened at $97.96 on Monday. ONEOK, Inc. has a 12-month low of $69.01 and a 12-month high of $118.07. The stock has a market capitalization of $57.23 billion, a P/E ratio of 20.49, a P/E/G ratio of 3.67 and a beta of 1.70. The firm’s 50 day moving average is $101.79 and its 200-day moving average is $98.16. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is 86.19%.

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.