Commonwealth Equity Services LLC Has $66.04 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Commonwealth Equity Services LLC lifted its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 657,759 shares of the utilities provider's stock after purchasing an additional 2,726 shares during the quarter. Commonwealth Equity Services LLC owned 0.11% of ONEOK worth $66,039,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Kieckhefer Group LLC bought a new stake in ONEOK in the 4th quarter valued at $30,000. Canton Hathaway LLC bought a new stake in ONEOK in the 4th quarter valued at $40,000. J.Safra Asset Management Corp bought a new stake in ONEOK in the 4th quarter valued at $48,000. OFI Invest Asset Management bought a new stake in ONEOK in the 4th quarter valued at $51,000. Finally, Versant Capital Management Inc lifted its position in ONEOK by 98.1% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider's stock valued at $53,000 after acquiring an additional 260 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Scotiabank cut their price objective on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a research report on Thursday, March 6th. Barclays lowered 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 note on Friday, March 7th. Wells Fargo & Company lowered 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 note on Wednesday, February 26th. Truist Financial lifted their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research note on Tuesday, December 3rd. Finally, Citigroup began coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a "buy" rating and a $110.00 price target on the stock. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued 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.

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ONEOK Stock Performance

Shares of ONEOK stock traded down $0.50 during trading on Tuesday, hitting $97.95. 2,728,695 shares of the stock were exchanged, compared to its average volume of 4,070,519. The stock has a market capitalization of $61.15 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a fifty day moving average price of $99.15 and a 200-day moving average price of $99.70. ONEOK, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.21%. This is a positive change from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio is 79.69%.

About ONEOK

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.