Chung Wu Investment Group LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,770 shares of the utilities provider's stock, valued at approximately $1,684,000. ONEOK accounts for 1.7% of Chung Wu Investment Group LLC's investment portfolio, making the stock its 13th biggest holding.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Farther Finance Advisors LLC raised its position in ONEOK by 4.3% in the third quarter. Farther Finance Advisors LLC now owns 7,592 shares of the utilities provider's stock valued at $692,000 after purchasing an additional 313 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of ONEOK by 1.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 187,696 shares of the utilities provider's stock valued at $17,105,000 after buying an additional 3,139 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in ONEOK by 50.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 151,844 shares of the utilities provider's stock worth $13,838,000 after acquiring an additional 50,808 shares in the last quarter. National Pension Service boosted its holdings in ONEOK by 1.6% during the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider's stock valued at $69,608,000 after acquiring an additional 12,349 shares during the period. Finally, QRG Capital Management Inc. grew its position in ONEOK by 6.5% in the 3rd quarter. QRG Capital Management Inc. now owns 5,936 shares of the utilities provider's stock valued at $541,000 after acquiring an additional 364 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the stock. Barclays reduced their price target on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research report on Friday. UBS Group raised their price target 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. Scotiabank cut their price objective on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a research report on Thursday. Truist Financial increased their price objective on ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research note on Tuesday, December 3rd. Finally, US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.31.
Check Out Our Latest Stock Analysis on ONEOK
ONEOK Stock Up 2.1 %
ONEOK stock traded up $1.89 during mid-day trading on Monday, hitting $91.46. The company had a trading volume of 5,994,733 shares, compared to its average volume of 4,128,707. 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 1 year low of $76.23 and a 1 year high of $118.07. The business has a fifty day moving average of $100.00 and a 200 day moving average of $99.46. The stock has a market cap of $57.10 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 3.77 and a beta of 1.70.
ONEOK (NYSE:OKE - Get Free Report) last posted 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. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. On average, sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.
ONEOK Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $1.03 dividend. 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 dividend on an annualized basis and a dividend yield of 4.50%. ONEOK's dividend payout ratio is 79.69%.
About ONEOK
(
Free Report)
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.
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