DnB Asset Management AS Buys 4,138 Shares of ONEOK, Inc. (NYSE:OKE)

DnB Asset Management AS increased its position in ONEOK, Inc. (NYSE:OKE) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 112,881 shares of the utilities provider’s stock after acquiring an additional 4,138 shares during the quarter. DnB Asset Management AS’s holdings in ONEOK were worth $11,333,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC increased its holdings in shares of ONEOK by 11.7% in the third quarter. FMR LLC now owns 1,171,917 shares of the utilities provider’s stock worth $106,797,000 after purchasing an additional 122,362 shares during the period. Fiduciary Trust Co increased its stake in ONEOK by 41.6% in the 3rd quarter. Fiduciary Trust Co now owns 8,038 shares of the utilities provider’s stock worth $733,000 after acquiring an additional 2,363 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of ONEOK by 0.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 101,905 shares of the utilities provider’s stock valued at $9,287,000 after acquiring an additional 390 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of ONEOK by 1.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 275,137 shares of the utilities provider’s stock valued at $25,070,000 after acquiring an additional 5,067 shares during the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of ONEOK by 0.3% during the third quarter. Captrust Financial Advisors now owns 100,222 shares of the utilities provider’s stock worth $9,133,000 after purchasing an additional 297 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE:OKE opened at $98.47 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07. The business has a 50 day moving average price of $98.32 and a 200-day moving average price of $100.17. The firm has a market cap of $61.48 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) 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 net margin of 14.05% and a return on equity of 16.84%. Equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.18%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 79.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on OKE shares. Wells Fargo & Company lowered their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Citigroup started coverage on shares of ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 price objective on the stock. Scotiabank cut 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 report on Thursday, March 6th. Truist Financial raised their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley lifted their price target on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.00.

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.