ONEOK, Inc. (NYSE:OKE) Stock Position Increased by Disciplined Equity Management Inc.

Disciplined Equity Management Inc. boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 48.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,105 shares of the utilities provider’s stock after acquiring an additional 8,190 shares during the period. ONEOK accounts for about 1.3% of Disciplined Equity Management Inc.’s portfolio, making the stock its 7th largest holding. Disciplined Equity Management Inc.’s holdings in ONEOK were worth $2,013,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKE. Vanguard Group Inc. boosted its position in shares of ONEOK by 10.3% during the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after purchasing an additional 5,525,010 shares during the period. Norges Bank acquired a new stake in shares of ONEOK in the fourth quarter valued at $297,948,000. Deutsche Bank AG raised its holdings in shares of ONEOK by 37.7% in the 3rd quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock valued at $843,133,000 after buying an additional 3,636,660 shares during the period. International Assets Investment Management LLC raised its holdings in shares of ONEOK by 5,247.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,463,929 shares of the utilities provider’s stock valued at $173,017,000 after buying an additional 2,417,849 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in ONEOK by 21.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,408,725 shares of the utilities provider’s stock worth $871,341,000 after acquiring an additional 2,153,295 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on OKE shares. Truist Financial boosted their price target on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. Mizuho upped their target price on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. US Capital Advisors cut shares of ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Wells Fargo & Company upped their price objective on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Stifel Nicolaus increased their price objective on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $84.50.

ONEOK Stock Up 0.7 %

OKE stock traded up $0.57 during trading on Thursday, hitting $82.89. 1,460,404 shares of the company’s stock were exchanged, compared to its average volume of 2,774,335. The business has a 50-day moving average price of $80.50 and a two-hundred day moving average price of $76.58. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $48.38 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 4.39 and a beta of 1.65. ONEOK, Inc. has a 52-week low of $60.58 and a 52-week high of $83.34.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The business had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same quarter in the previous year, the firm earned $2.34 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 4.95 EPS for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date was Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

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.