Candriam S.C.A. Acquires 1,929 Shares of ONEOK, Inc. (NYSE:OKE)

Candriam S.C.A. increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,778 shares of the utilities provider’s stock after purchasing an additional 1,929 shares during the period. Candriam S.C.A.’s holdings in ONEOK were worth $5,500,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kieckhefer Group LLC bought a new stake in shares of ONEOK during the 4th quarter valued at $30,000. Access Investment Management LLC bought a new stake in shares of ONEOK during the 3rd quarter valued at $37,000. Canton Hathaway LLC bought a new stake in shares of ONEOK during the 4th quarter valued at $40,000. J.Safra Asset Management Corp bought a new stake in shares of ONEOK during the 4th quarter valued at $48,000. Finally, Versant Capital Management Inc raised its position in shares of ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 260 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Barclays cut their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday. Citigroup assumed coverage on shares of ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company. Scotiabank cut their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday. 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 assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and an average target price of $103.31.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $89.59 on Friday. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07. The stock has a market capitalization of $55.93 billion, a P/E ratio of 18.74, a PEG ratio of 3.77 and a beta of 1.70. The firm has a fifty day simple moving average of $100.00 and a two-hundred day simple moving average of $99.37. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 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 analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.60%. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 79.69%.

About ONEOK

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.