D.A. Davidson & CO. Acquires 2,937 Shares of ONEOK, Inc. (NYSE:OKE)

D.A. Davidson & CO. grew its holdings in ONEOK, Inc. (NYSE:OKE) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 155,220 shares of the utilities provider’s stock after acquiring an additional 2,937 shares during the quarter. D.A. Davidson & CO.’s holdings in ONEOK were worth $15,584,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in ONEOK by 3.9% in 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 purchasing an additional 661,854 shares in the last quarter. Geode Capital Management LLC raised its stake in ONEOK by 1.0% in the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after purchasing an additional 138,430 shares in the last quarter. Janus Henderson Group PLC raised its stake in ONEOK by 0.3% in the third 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 in the last quarter. International Assets Investment Management LLC raised its stake in ONEOK by 9,439.9% in the third 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 raised its stake in ONEOK by 14.8% in the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after purchasing an additional 277,514 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on OKE shares. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. UBS Group boosted their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a research note on Wednesday, December 18th. Finally, Truist Financial boosted 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. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Stock Performance

Shares of OKE stock opened at $98.57 on Wednesday. The business’s 50 day simple moving average is $101.64 and its 200 day simple moving average is $98.38. ONEOK, Inc. has a one year low of $71.50 and a one year high of $118.07. The stock has a market capitalization of $57.58 billion, a PE ratio of 20.62, a PEG ratio of 3.67 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.18%. ONEOK’s dividend payout ratio is presently 86.19%.

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.