M&T Bank Corp Acquires 7,635 Shares of ONEOK, Inc. (NYSE:OKE)

M&T Bank Corp lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 153,556 shares of the utilities provider’s stock after purchasing an additional 7,635 shares during the quarter. M&T Bank Corp’s holdings in ONEOK were worth $15,416,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in OKE. Atria Investments Inc boosted its position in shares of ONEOK by 21.1% during the 4th quarter. Atria Investments Inc now owns 28,536 shares of the utilities provider’s stock worth $2,865,000 after acquiring an additional 4,975 shares in the last quarter. Assetmark Inc. boosted its position in shares of ONEOK by 43.2% during the 4th quarter. Assetmark Inc. now owns 1,806 shares of the utilities provider’s stock worth $181,000 after acquiring an additional 545 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of ONEOK during the 4th quarter worth approximately $48,000. Cookson Peirce & Co. Inc. acquired a new stake in shares of ONEOK during the 4th quarter worth approximately $201,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of ONEOK during the 4th quarter worth approximately $235,000. 69.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OKE. Wells Fargo & Company reduced their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Truist Financial increased their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. UBS Group raised their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Scotiabank began coverage on shares of ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, eight have given 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 an average rating of “Moderate Buy” and an average price target of $104.15.

ONEOK Price Performance

OKE stock opened at $91.95 on Thursday. The company has a fifty day moving average price of $100.45 and a 200-day moving average price of $99.34. The company has a market capitalization of $57.40 billion, a P/E ratio of 19.24, a PEG 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 debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, equities analysts expect that ONEOK, Inc. will post 5.07 EPS for the current 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. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.48%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

ONEOK Company 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.