101,332 Shares in ONEOK, Inc. (NYSE:OKE) Bought by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR purchased a new position in ONEOK, Inc. (NYSE:OKE) during the 4th quarter, Holdings Channel.com reports. The firm purchased 101,332 shares of the utilities provider’s stock, valued at approximately $10,174,000.

Several other large investors also recently bought and sold shares of the business. Astoria Portfolio Advisors LLC. increased its position in ONEOK by 4.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after purchasing an additional 96 shares during the last quarter. McAdam LLC increased its position in ONEOK by 3.8% in the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC boosted its stake in ONEOK by 0.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after buying an additional 100 shares during the period. Mutual Advisors LLC boosted its stake in ONEOK by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after buying an additional 103 shares during the period. Finally, Morton Capital Management LLC CA boosted its stake in ONEOK by 1.4% during the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after buying an additional 104 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the subject of a number of recent analyst reports. Citigroup initiated coverage on shares of ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company. Scotiabank lowered their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Barclays decreased their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Finally, Truist Financial lifted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. 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 company’s stock. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Stock Performance

OKE opened at $98.41 on Tuesday. The firm’s 50-day moving average price is $99.15 and its 200-day moving average price is $99.70. The company has a market cap of $61.44 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week 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 issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The firm 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 anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given 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 4.19%. ONEOK’s dividend payout ratio (DPR) is 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.