Mitsubishi UFJ Trust & Banking Corp Buys 1,246,963 Shares of ONEOK, Inc. (NYSE:OKE)

Mitsubishi UFJ Trust & Banking Corp raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 445.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,526,899 shares of the utilities provider’s stock after purchasing an additional 1,246,963 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.26% of ONEOK worth $153,319,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in OKE. Bay Capital Advisors LLC purchased a new position in shares of ONEOK during the 4th quarter valued at about $249,000. PKS Advisory Services LLC purchased a new position in shares of ONEOK during the fourth quarter worth approximately $202,000. First American Trust FSB bought a new stake in shares of ONEOK in the 4th quarter worth approximately $224,000. FineMark National Bank & Trust boosted its stake in shares of ONEOK by 3.0% in the 4th quarter. FineMark National Bank & Trust now owns 4,632 shares of the utilities provider’s stock valued at $465,000 after purchasing an additional 133 shares in the last quarter. Finally, Ashton Thomas Securities LLC grew its holdings in shares of ONEOK by 70.8% during the 4th quarter. Ashton Thomas Securities LLC now owns 2,156 shares of the utilities provider’s stock valued at $217,000 after purchasing an additional 894 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of OKE stock opened at $102.34 on Tuesday. The business’s fifty day moving average is $98.91 and its 200 day moving average is $99.99. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a market cap of $63.89 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. Research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.03%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Analyst Upgrades and Downgrades

OKE has been the subject of several recent research reports. Truist Financial boosted their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Monday, February 10th. Barclays reduced their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Scotiabank dropped their price objective 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. Finally, US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Seven 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 stock. According to data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.31.

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.