Everett Harris & Co. CA Increases Holdings in ONEOK, Inc. (NYSE:OKE)

Everett Harris & Co. CA raised its stake in ONEOK, Inc. (NYSE:OKE) by 1.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 107,621 shares of the utilities provider’s stock after buying an additional 1,472 shares during the period. Everett Harris & Co. CA’s holdings in ONEOK were worth $10,805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC raised its stake in ONEOK by 0.4% during the second quarter. AQR Capital Management LLC now owns 93,486 shares of the utilities provider’s stock worth $7,566,000 after purchasing an additional 383 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of ONEOK by 2.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 44,788 shares of the utilities provider’s stock valued at $3,652,000 after buying an additional 1,119 shares during the period. Dana Investment Advisors Inc. lifted its holdings in ONEOK by 3.8% in the second quarter. Dana Investment Advisors Inc. now owns 3,868 shares of the utilities provider’s stock valued at $315,000 after acquiring an additional 143 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in ONEOK in the second quarter worth approximately $8,828,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in ONEOK by 11.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 3,830 shares of the utilities provider’s stock worth $349,000 after acquiring an additional 399 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of NYSE OKE opened at $96.95 on Friday. The stock’s 50-day moving average is $104.92 and its two-hundred day moving average is $96.97. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market cap of $56.64 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 3.81 and a beta of 1.70. ONEOK, Inc. has a 1-year low of $67.05 and a 1-year high of $118.07.

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 firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. Analysts forecast that ONEOK, Inc. will post 5.09 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders 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 dividend yield of 4.25%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on OKE shares. Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Barclays increased their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research report on Wednesday, December 18th. Bank of America initiated coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Finally, Truist Financial lifted their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.