Charles Schwab Investment Management Inc. Has $1.85 Billion Stake in ONEOK, Inc. (NYSE:OKE)

Charles Schwab Investment Management Inc. increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,414,781 shares of the utilities provider’s stock after acquiring an additional 934,007 shares during the period. Charles Schwab Investment Management Inc.’s holdings in ONEOK were worth $1,848,844,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in OKE. Kieckhefer Group LLC acquired a new stake in shares of ONEOK during the fourth quarter worth $30,000. Access Investment Management LLC bought a new stake in shares of ONEOK during the 3rd quarter worth about $37,000. Canton Hathaway LLC bought a new stake in shares of ONEOK during the 4th quarter worth about $40,000. Versant Capital Management Inc boosted its holdings in ONEOK by 98.1% in 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. Finally, FSA Wealth Management LLC acquired a new position in shares of ONEOK in the 3rd quarter valued at approximately $57,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on OKE shares. UBS Group upped their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Truist Financial increased their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Citigroup began coverage on shares of ONEOK in a report on Friday. They set a “buy” rating and a $110.00 price objective on the stock. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Monday, February 10th. Finally, Barclays began coverage on shares of ONEOK in a report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $104.15.

ONEOK Stock Down 3.8 %

NYSE OKE opened at $96.57 on Tuesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a market capitalization of $60.29 billion, a P/E ratio of 20.20, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a one year low of $75.69 and a one year high of $118.07. The stock has a 50 day moving average price of $100.83 and a 200-day moving average price of $99.35.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.27%. ONEOK’s payout ratio is presently 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.