ONEOK, Inc. (NYSE:OKE) Shares Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd increased its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 41.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,399 shares of the utilities provider's stock after acquiring an additional 4,538 shares during the period. Dynamic Technology Lab Private Ltd's holdings in ONEOK were worth $1,546,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. KCM Investment Advisors LLC raised its holdings in ONEOK by 90.7% during the 4th quarter. KCM Investment Advisors LLC now owns 4,743 shares of the utilities provider's stock valued at $476,000 after buying an additional 2,256 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in shares of ONEOK in the fourth quarter valued at $17,580,000. Arete Wealth Advisors LLC lifted its holdings in shares of ONEOK by 50.1% in the 4th quarter. Arete Wealth Advisors LLC now owns 19,329 shares of the utilities provider's stock worth $1,941,000 after acquiring an additional 6,454 shares during the last quarter. Disciplined Investors L.L.C. purchased a new position in shares of ONEOK during the 4th quarter worth about $293,000. Finally, OneAscent Financial Services LLC grew its holdings in ONEOK by 116.4% during the 4th quarter. OneAscent Financial Services LLC now owns 7,517 shares of the utilities provider's stock valued at $755,000 after purchasing an additional 4,044 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OKE has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price target on ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Morgan Stanley boosted their price target on ONEOK from $111.00 to $133.00 and gave the stock 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 note on Monday, February 3rd. Scotiabank reduced their price target on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a research report on Thursday, March 6th. Finally, Citigroup initiated coverage on ONEOK in a research report on Friday, February 28th. They issued a "buy" rating and a $110.00 price objective for the company. Seven investment 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $105.00.

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ONEOK Stock Performance

Shares of ONEOK stock traded down $4.07 during trading on Thursday, hitting $80.79. 2,206,169 shares of the company's stock were exchanged, compared to its average volume of 3,147,025. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a market capitalization of $50.46 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 3.77 and a beta of 1.20. The business has a 50-day simple moving average of $95.26 and a 200-day simple moving average of $99.77.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion during the quarter, compared to analysts' expectations of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current 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 paid a $1.03 dividend. This is a boost from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 5.10%. The ex-dividend date was Monday, February 3rd. ONEOK's payout ratio is currently 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.