QRG Capital Management Inc. Has $711,000 Stake in ONEOK, Inc. (NYSE:OKE)

QRG Capital Management Inc. increased its stake in ONEOK, Inc. (NYSE:OKE) by 19.3% in the 4th quarter, Holdings Channel reports. The firm owned 7,083 shares of the utilities provider’s stock after purchasing an additional 1,147 shares during the period. QRG Capital Management Inc.’s holdings in ONEOK were worth $711,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Versor Investments LP acquired a new stake in shares of ONEOK in the fourth quarter worth $1,209,000. Proficio Capital Partners LLC acquired a new position in ONEOK during the 4th quarter worth $258,000. Oppenheimer Asset Management Inc. boosted its holdings in ONEOK by 1.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 34,918 shares of the utilities provider’s stock valued at $3,506,000 after acquiring an additional 557 shares during the period. Kovack Advisors Inc. boosted its holdings in ONEOK by 20.1% during the fourth quarter. Kovack Advisors Inc. now owns 8,042 shares of the utilities provider’s stock valued at $807,000 after acquiring an additional 1,347 shares during the period. Finally, New York Life Investment Management LLC grew its position in shares of ONEOK by 0.3% in the fourth quarter. New York Life Investment Management LLC now owns 86,778 shares of the utilities provider’s stock valued at $8,713,000 after purchasing an additional 267 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on OKE shares. Barclays assumed coverage on ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price objective for the company. UBS Group upped their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Truist Financial raised their price objective 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. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and a consensus price target of $104.15.

ONEOK Price Performance

Shares of ONEOK stock opened at $93.74 on Wednesday. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07. 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 firm has a market cap of $58.52 billion, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The firm’s 50-day simple moving average is $100.66 and its 200-day simple moving average is $99.40.

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

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders 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. This represents a $4.12 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio is currently 79.69%.

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.