Keybank National Association OH Increases Stock Position in ONEOK, Inc. (NYSE:OKE)

Keybank National Association OH boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,667 shares of the utilities provider’s stock after purchasing an additional 1,236 shares during the quarter. Keybank National Association OH’s holdings in ONEOK were worth $11,613,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in ONEOK by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after acquiring an additional 934,007 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of ONEOK in the 3rd quarter valued at approximately $47,957,000. National Pension Service increased its holdings in shares of ONEOK by 65.3% in the fourth quarter. National Pension Service now owns 1,262,741 shares of the utilities provider’s stock valued at $126,779,000 after purchasing an additional 498,908 shares during the period. Yaupon Capital Management LP purchased a new stake in shares of ONEOK during the third quarter worth approximately $45,194,000. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of ONEOK by 10,153.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock worth $49,662,000 after purchasing an additional 489,821 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OKE. UBS Group boosted 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. Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Wells Fargo & Company reduced their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Scotiabank initiated coverage on ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective on the stock. Finally, Truist Financial increased their target price on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $104.15.

ONEOK Stock Down 3.1 %

ONEOK stock opened at $93.74 on Wednesday. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07. The firm has a market capitalization of $58.52 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The stock’s fifty day moving average is $100.66 and its two-hundred day moving average is $99.40. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Analysts predict 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 given a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s payout ratio is currently 79.69%.

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.