ONEOK, Inc. (NYSE:OKE) is Barnett & Company Inc.’s 8th Largest Position

Barnett & Company Inc. reduced its stake in ONEOK, Inc. (NYSE:OKE) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,516 shares of the utilities provider’s stock after selling 300 shares during the quarter. ONEOK makes up approximately 3.8% of Barnett & Company Inc.’s investment portfolio, making the stock its 8th largest position. Barnett & Company Inc.’s holdings in ONEOK were worth $5,775,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of ONEOK during the 4th quarter worth approximately $182,694,000. Charles Schwab Investment Management Inc. grew its holdings in ONEOK by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after acquiring an additional 934,007 shares in the last quarter. Vanguard Group Inc. raised its stake in ONEOK by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock valued at $7,040,075,000 after buying an additional 558,789 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in ONEOK in the third quarter valued at approximately $47,957,000. Finally, National Pension Service grew its position in shares of ONEOK by 65.3% in the 4th quarter. National Pension Service now owns 1,262,741 shares of the utilities provider’s stock valued at $126,779,000 after buying an additional 498,908 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Citigroup began coverage on shares of ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 price objective on the stock. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Scotiabank cut their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Truist Financial raised their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company reduced their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $103.31.

ONEOK Stock Down 1.2 %

Shares of OKE stock opened at $99.45 on Monday. 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 stock has a fifty day moving average price of $98.94 and a 200 day moving average price of $99.92. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The stock has a market cap of $62.09 billion, a P/E ratio of 20.81, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. Analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.14%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is currently 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.