Lbp Am Sa Acquires 7,122 Shares of ONEOK, Inc. (NYSE:OKE)

Lbp Am Sa increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 197,049 shares of the utilities provider’s stock after purchasing an additional 7,122 shares during the quarter. Lbp Am Sa’s holdings in ONEOK were worth $19,784,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in ONEOK by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after buying an additional 934,007 shares during the period. Geode Capital Management LLC increased its position in ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after buying an additional 138,430 shares during the period. Amundi increased its position in ONEOK by 5.3% during the 4th quarter. Amundi now owns 4,105,596 shares of the utilities provider’s stock worth $422,261,000 after buying an additional 207,324 shares during the period. Janus Henderson Group PLC increased its position in shares of ONEOK by 0.3% in the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after purchasing an additional 11,189 shares during the period. Finally, Chickasaw Capital Management LLC increased its position in shares of ONEOK by 15.2% in the fourth quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock worth $200,031,000 after purchasing an additional 263,545 shares during the period. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Performance

Shares of OKE stock opened at $93.40 on Friday. The business’s 50-day moving average price is $99.34 and its 200-day moving average price is $99.43. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. The firm has a market capitalization of $58.31 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 3.77 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

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. Equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current 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 paid a $1.03 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date was Monday, February 3rd. ONEOK’s payout ratio is currently 79.69%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Barclays decreased their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Truist Financial raised their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company reduced their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Seven investment 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.31.

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.