Mutual Advisors LLC Increases Position in ONEOK, Inc. (NYSE:OKE)

Mutual Advisors LLC grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,883 shares of the utilities provider’s stock after purchasing an additional 103 shares during the period. Mutual Advisors LLC’s holdings in ONEOK were worth $965,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in OKE. Charles Schwab Investment Management Inc. raised its stake in ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after buying an additional 661,854 shares during the last quarter. Geode Capital Management LLC boosted its stake in ONEOK by 1.0% in 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 purchasing an additional 138,430 shares in the last quarter. Janus Henderson Group PLC grew its position in ONEOK by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after purchasing an additional 11,189 shares during the last quarter. International Assets Investment Management LLC increased its stake in ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after purchasing an additional 3,197,121 shares in the last quarter. Finally, abrdn plc lifted its stake in shares of ONEOK by 14.8% in the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock worth $195,545,000 after buying an additional 277,514 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on OKE shares. Barclays raised their price target on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Truist Financial boosted their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Finally, Scotiabank started coverage on shares of ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.92.

ONEOK Trading Down 0.5 %

NYSE:OKE opened at $104.42 on Friday. ONEOK, Inc. has a one year low of $67.05 and a one year high of $118.07. The business has a fifty day moving average price of $106.00 and a 200-day moving average price of $96.50. The firm has a market capitalization of $61.00 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period last year, the business earned $0.99 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given 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 3.95%. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK’s dividend payout ratio is presently 82.85%.

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.