Advisors Asset Management Inc. Has $9.37 Million Stake in ONEOK, Inc. (NYSE:OKE)

Advisors Asset Management Inc. lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 9.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 93,325 shares of the utilities provider’s stock after acquiring an additional 7,694 shares during the period. Advisors Asset Management Inc.’s holdings in ONEOK were worth $9,370,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in ONEOK in the fourth quarter valued at $182,694,000. Charles Schwab Investment Management Inc. increased its position in ONEOK by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after buying an additional 934,007 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in ONEOK in the 3rd quarter valued at about $47,957,000. National Pension Service raised its stake in ONEOK by 65.3% during the 4th quarter. National Pension Service now owns 1,262,741 shares of the utilities provider’s stock worth $126,779,000 after buying an additional 498,908 shares during the period. Finally, Yaupon Capital Management LP bought a new position in ONEOK in the third quarter worth approximately $45,194,000. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on OKE. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Wells Fargo & Company lowered their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Barclays reduced 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. Truist Financial upped their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Finally, Citigroup began coverage on ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 price target for the company. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Trading Down 0.5 %

Shares of ONEOK stock opened at $97.95 on Wednesday. The stock has a fifty day moving average price of $99.08 and a 200-day moving average price of $99.74. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market cap of $61.15 billion, a PE ratio of 20.49, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings data 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 the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.21%. 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.