UniSuper Management Pty Ltd Acquires 7,379 Shares of ONEOK, Inc. (NYSE:OKE)

UniSuper Management Pty Ltd raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 20.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,486 shares of the utilities provider’s stock after acquiring an additional 7,379 shares during the quarter. UniSuper Management Pty Ltd’s holdings in ONEOK were worth $4,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of OKE. FNY Investment Advisers LLC grew its holdings in ONEOK by 14,279.1% during the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock valued at $2,208,000 after purchasing an additional 21,847 shares during the period. Kingswood Wealth Advisors LLC grew its stake in shares of ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock valued at $1,456,000 after acquiring an additional 5,321 shares during the period. Simon Quick Advisors LLC purchased a new stake in ONEOK in the 4th quarter worth approximately $251,000. Rockefeller Capital Management L.P. raised its stake in ONEOK by 1.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 275,137 shares of the utilities provider’s stock worth $25,070,000 after acquiring an additional 5,067 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in ONEOK by 9.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider’s stock valued at $155,038,000 after purchasing an additional 136,071 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the subject of a number of analyst reports. Scotiabank reduced their price objective on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Barclays cut their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Truist Financial upped their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. 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 note on Monday, February 10th. Finally, Wells Fargo & Company lowered their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Seven equities 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Price Performance

ONEOK stock opened at $98.47 on Friday. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week 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’s fifty day moving average is $98.32 and its 200 day moving average is $100.11. The company has a market cap of $61.48 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 3.77 and a beta of 1.70.

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. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.18%. ONEOK’s payout ratio is 79.69%.

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.