DekaBank Deutsche Girozentrale Boosts Holdings in ONEOK, Inc. (NYSE:OKE)

DekaBank Deutsche Girozentrale boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 1.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 124,244 shares of the utilities provider’s stock after acquiring an additional 2,028 shares during the period. DekaBank Deutsche Girozentrale’s holdings in ONEOK were worth $9,864,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in ONEOK in the first quarter valued at approximately $25,000. LifeSteps Financial Inc. acquired a new stake in ONEOK during the 1st quarter worth $26,000. HHM Wealth Advisors LLC purchased a new position in ONEOK during the 4th quarter worth $32,000. American National Bank acquired a new position in ONEOK in the first quarter valued at $32,000. Finally, Security National Bank purchased a new stake in shares of ONEOK in the fourth quarter valued at about $35,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of OKE traded down $1.89 during midday trading on Friday, reaching $80.17. The stock had a trading volume of 3,390,539 shares, compared to its average volume of 2,238,059. The firm has a market cap of $46.79 billion, a PE ratio of 18.64, a P/E/G ratio of 4.37 and a beta of 1.65. The firm has a 50 day simple moving average of $81.43 and a 200-day simple moving average of $78.06. ONEOK, Inc. has a one year low of $60.58 and a one year high of $86.20. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.94%. The ex-dividend date is Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Truist Financial boosted their price target on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Mizuho boosted their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Morgan Stanley boosted their price target on shares of ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, June 10th. Finally, Stifel Nicolaus lifted their price objective on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $85.00.

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.