Wellington Management Group LLP Has $422.37 Million Stake in ONEOK, Inc. (NYSE:OKE)

Wellington Management Group LLP increased its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 433.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,206,906 shares of the utilities provider's stock after buying an additional 3,418,207 shares during the quarter. Wellington Management Group LLP owned about 0.67% of ONEOK worth $422,373,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Kieckhefer Group LLC bought a new position in shares of ONEOK during the fourth quarter worth about $30,000. Canton Hathaway LLC bought a new position in ONEOK in the 4th quarter worth about $40,000. J.Safra Asset Management Corp acquired a new stake in shares of ONEOK in the fourth quarter valued at approximately $48,000. VSM Wealth Advisory LLC bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $50,000. Finally, OFI Invest Asset Management acquired a new position in shares of ONEOK during the fourth quarter worth approximately $51,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of OKE traded up $1.01 during trading hours on Wednesday, hitting $100.51. 2,148,611 shares of the company were exchanged, compared to its average volume of 3,033,153. The firm has a fifty day simple moving average of $97.80 and a 200-day simple moving average of $100.36. The company has a market capitalization of $62.75 billion, a PE ratio of 21.03, a PEG ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07.

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ONEOK (NYSE:OKE - Get Free Report) last issued 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 return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion for the quarter, compared to analysts' expectations of $6.18 billion. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently announced 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. This is an increase from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK's payout ratio is 79.69%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OKE. Wells Fargo & Company cut their target price on ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Wolfe Research upgraded 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. Morgan Stanley increased their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. 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. Finally, Truist Financial upped their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a research note on Tuesday, December 3rd. 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 company. According to MarketBeat, ONEOK currently has an average rating of "Moderate Buy" and an average target price of $105.00.

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.