ONEOK, Inc. (NYSE:OKE) Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,976,864 shares of the utilities provider’s stock after acquiring an additional 32,484 shares during the quarter. Clearbridge Investments LLC owned about 0.34% of ONEOK worth $198,477,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. boosted its position in ONEOK by 4.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock valued at $260,000 after buying an additional 96 shares during the last quarter. McAdam LLC increased its stake in shares of ONEOK by 3.8% in the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after acquiring an additional 96 shares during the period. Alliance Wealth Advisors LLC raised its holdings in shares of ONEOK by 0.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after purchasing an additional 100 shares during the last quarter. Mutual Advisors LLC lifted its position in ONEOK by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after purchasing an additional 103 shares during the period. Finally, Morton Capital Management LLC CA grew its position in ONEOK by 1.4% during the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.2 %

Shares of OKE opened at $98.47 on Monday. The stock has a 50 day moving average price of $98.32 and a 200 day moving average price of $100.24. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a market capitalization 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 released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.18%. 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 (DPR) is currently 79.69%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Truist Financial upped 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. Morgan Stanley raised their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Scotiabank cut their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Monday, February 10th. Finally, Barclays cut their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. 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. Based on data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Company 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.