KBC Group NV Acquires 3,173 Shares of ONEOK, Inc. (NYSE:OKE)

KBC Group NV lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 7.0% in the fourth quarter, HoldingsChannel reports. The fund owned 48,556 shares of the utilities provider’s stock after buying an additional 3,173 shares during the period. KBC Group NV’s holdings in ONEOK were worth $4,875,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in OKE. Matrix Trust Co purchased a new position in ONEOK in the 3rd quarter worth $29,000. Kieckhefer Group LLC purchased a new position in shares of ONEOK in the fourth quarter worth about $30,000. Access Investment Management LLC bought a new stake in shares of ONEOK in the 3rd quarter valued at about $37,000. Values First Advisors Inc. purchased a new stake in ONEOK during the 3rd quarter valued at about $44,000. Finally, Fortitude Family Office LLC grew its position in ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 0.5 %

NYSE OKE opened at $99.91 on Friday. The firm has a market capitalization of $58.36 billion, a PE ratio of 20.90, a P/E/G ratio of 4.03 and a beta of 1.70. The stock’s 50 day moving average is $105.25 and its 200 day moving average is $96.95. ONEOK, Inc. has a twelve month low of $67.05 and a twelve month high of $118.07. 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 released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the prior year, the company earned $0.99 earnings per share. Research analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is 82.85%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Scotiabank initiated coverage on ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Truist Financial raised their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. UBS Group increased their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.

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.