Empowered Funds LLC Purchases 7,936 Shares of ONEOK, Inc. (NYSE:OKE)

Empowered Funds LLC raised its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 80.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,820 shares of the utilities provider's stock after purchasing an additional 7,936 shares during the quarter. Empowered Funds LLC's holdings in ONEOK were worth $1,789,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of OKE. Charles Schwab Investment Management Inc. grew its position in ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider's stock valued at $1,593,023,000 after acquiring an additional 661,854 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of ONEOK by 1.0% during the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider's stock worth $1,242,449,000 after buying an additional 138,430 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of ONEOK by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider's stock valued at $341,844,000 after acquiring an additional 11,189 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider's stock valued at $294,440,000 after acquiring an additional 3,197,121 shares in the last quarter. Finally, abrdn plc grew its position in ONEOK by 14.8% during the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider's stock worth $195,545,000 after acquiring an additional 277,514 shares during the last quarter. Institutional investors own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on OKE. Barclays assumed coverage on ONEOK in a research report on Thursday, February 6th. They issued an "equal weight" rating and a $105.00 target price for the company. Truist Financial lifted their target price 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. US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Wells Fargo & Company downgraded shares of ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 price target for the company. in a research note on Wednesday, December 18th. Finally, Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ONEOK presently has an average rating of "Moderate Buy" and a consensus target price of $103.92.

ONEOK Trading Up 0.4 %

NYSE OKE traded up $0.38 during trading hours on Wednesday, hitting $99.02. 1,823,116 shares of the company's stock were exchanged, compared to its average volume of 3,904,198. The firm has a market cap of $57.85 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 3.74 and a beta of 1.70. The stock has a 50-day simple moving average of $101.53 and a 200 day simple moving average of $98.51. 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, Inc. has a 1-year low of $71.50 and a 1-year high of $118.07.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This is an increase from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.16%. ONEOK's dividend payout ratio (DPR) is 86.19%.

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.