Generali Investments Management Co LLC Invests $485,000 in ONEOK, Inc. (NYSE:OKE)

Generali Investments Management Co LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,826 shares of the utilities provider's stock, valued at approximately $485,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC increased its holdings in shares of ONEOK by 5.8% in the third quarter. OneDigital Investment Advisors LLC now owns 8,365 shares of the utilities provider's stock valued at $762,000 after purchasing an additional 455 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of ONEOK by 8.8% in the third quarter. Empowered Funds LLC now owns 9,884 shares of the utilities provider's stock valued at $901,000 after purchasing an additional 797 shares during the last quarter. Caprock Group LLC increased its holdings in shares of ONEOK by 267.5% in the third quarter. Caprock Group LLC now owns 35,101 shares of the utilities provider's stock valued at $3,199,000 after purchasing an additional 25,549 shares during the last quarter. OneAscent Financial Services LLC acquired a new position in shares of ONEOK in the third quarter valued at $317,000. Finally, Fifth Third Wealth Advisors LLC grew its stake in shares of ONEOK by 222.3% in the third quarter. Fifth Third Wealth Advisors LLC now owns 16,181 shares of the utilities provider's stock valued at $1,475,000 after acquiring an additional 11,160 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Trading Down 1.2 %

Shares of OKE stock traded down $1.20 during trading hours on Friday, hitting $99.45. 9,379,327 shares of the company were exchanged, compared to its average volume of 2,859,821. The firm has a market cap of $62.09 billion, a P/E ratio of 20.81, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two 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. The company has a 50 day simple moving average of $98.94 and a two-hundred day simple moving average of $99.86.

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ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. The company 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%. Equities analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current 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. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.14%. ONEOK's dividend payout ratio (DPR) is 79.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Citigroup assumed coverage on shares of ONEOK in a research note on Friday, February 28th. They set a "buy" rating and a $110.00 price objective on the stock. Wolfe Research raised 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. Wells Fargo & Company dropped their price objective on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Barclays dropped their price objective on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Finally, Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a report on Tuesday, December 3rd. Seven investment 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. According to MarketBeat, ONEOK presently has a consensus rating of "Moderate Buy" and an average target price of $103.31.

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.