5,374,044 Shares in ONEOK, Inc. (NYSE:OKE) Bought by Norges Bank

Norges Bank bought a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,374,044 shares of the utilities provider’s stock, valued at approximately $539,554,000. Norges Bank owned approximately 0.92% of ONEOK as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FNY Investment Advisers LLC grew its holdings in shares of ONEOK by 14,279.1% during the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after purchasing an additional 21,847 shares in the last quarter. Kingswood Wealth Advisors LLC grew its stake in ONEOK by 57.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after buying an additional 5,321 shares in the last quarter. Simon Quick Advisors LLC bought a new position in shares of ONEOK in the 4th quarter worth $251,000. Rockefeller Capital Management L.P. raised its position in shares of ONEOK by 1.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 275,137 shares of the utilities provider’s stock valued at $25,070,000 after buying an additional 5,067 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of ONEOK by 9.7% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider’s stock worth $155,038,000 after acquiring an additional 136,071 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Scotiabank reduced their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Truist Financial raised their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Morgan Stanley upped their target price on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Finally, Citigroup started coverage on shares of ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Seven equities research 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

ONEOK Stock Performance

ONEOK stock opened at $98.47 on Friday. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07. The stock’s 50 day simple moving average is $98.32 and its two-hundred day simple moving average is $100.11. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a market cap of $61.48 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 3.77 and a beta of 1.70.

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

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is 79.69%.

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.