Financial Counselors Inc. Has $1.21 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Financial Counselors Inc. raised its holdings in ONEOK, Inc. (NYSE:OKE) by 9.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,043 shares of the utilities provider’s stock after buying an additional 1,002 shares during the quarter. Financial Counselors Inc.’s holdings in ONEOK were worth $1,209,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Penobscot Investment Management Company Inc. grew its stake in shares of ONEOK by 12.8% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 35,417 shares of the utilities provider’s stock worth $3,556,000 after acquiring an additional 4,032 shares during the last quarter. Morey & Quinn Wealth Partners LLC bought a new stake in ONEOK in the 4th quarter valued at $1,565,000. Ipsen Advisor Group LLC acquired a new stake in ONEOK in the 4th quarter worth $581,000. Trust Investment Advisors increased its holdings in shares of ONEOK by 9.6% during the 4th quarter. Trust Investment Advisors now owns 21,500 shares of the utilities provider’s stock worth $2,159,000 after purchasing an additional 1,890 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of ONEOK by 445.4% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider’s stock valued at $153,319,000 after buying an additional 1,246,963 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Morgan Stanley raised their price objective on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday. Barclays lowered their price objective 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 target price on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Finally, Scotiabank decreased their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.00.

ONEOK Trading Down 2.5 %

Shares of OKE stock opened at $98.76 on Friday. The company has a market capitalization of $61.66 billion, a P/E ratio of 20.66, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07. 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 firm has a 50-day moving average price of $98.53 and a 200 day moving average price of $100.07.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion during 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%. Research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is presently 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.