Advisors Asset Management Inc. Has $9.37 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Advisors Asset Management Inc. grew its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 9.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,325 shares of the utilities provider's stock after purchasing an additional 7,694 shares during the period. Advisors Asset Management Inc.'s holdings in ONEOK were worth $9,370,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in ONEOK by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider's stock worth $1,848,844,000 after buying an additional 934,007 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider's stock valued at $1,242,449,000 after acquiring an additional 138,430 shares in the last quarter. Amundi increased its stake in ONEOK by 5.3% in the fourth quarter. Amundi now owns 4,105,596 shares of the utilities provider's stock valued at $422,261,000 after acquiring an additional 207,324 shares during the period. Janus Henderson Group PLC raised its position in ONEOK by 0.3% in the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider's stock worth $341,844,000 after purchasing an additional 11,189 shares in the last quarter. Finally, Chickasaw Capital Management LLC lifted its stake in ONEOK by 15.2% during the fourth quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider's stock worth $200,031,000 after purchasing an additional 263,545 shares during the period. Institutional investors and hedge funds own 69.13% of the company's stock.

Remove Ads

Analysts Set New Price Targets

OKE has been the topic of several analyst reports. Citigroup began coverage on ONEOK in a research note on Friday, February 28th. They issued a "buy" rating and a $110.00 price objective on the stock. Scotiabank dropped their price objective on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company in a research note on Thursday, March 6th. 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. Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Finally, US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $103.31.

ONEOK Trading Down 1.2 %

OKE stock traded down $1.20 during midday trading on Friday, reaching $99.45. The stock had a trading volume of 9,379,327 shares, compared to its average volume of 2,859,821. 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, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07. The firm has a market cap of $62.09 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 3.77 and a beta of 1.70. The business has a fifty day simple moving average of $98.94 and a two-hundred day simple moving average of $99.86.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $7 billion during 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. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK's previous quarterly dividend of $0.99. 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.