Vanguard Group Inc. Purchases 558,789 Shares of ONEOK, Inc. (NYSE:OKE)

Vanguard Group Inc. boosted its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,120,264 shares of the utilities provider's stock after purchasing an additional 558,789 shares during the period. Vanguard Group Inc. owned approximately 12.00% of ONEOK worth $7,040,075,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in ONEOK by 10.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 71,918 shares of the utilities provider's stock worth $6,554,000 after buying an additional 6,713 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of ONEOK by 0.6% during the 3rd quarter. Raymond James Trust N.A. now owns 25,234 shares of the utilities provider's stock valued at $2,300,000 after acquiring an additional 147 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in shares of ONEOK during the 3rd quarter worth $721,000. Nwam LLC bought a new stake in shares of ONEOK during the 3rd quarter worth $224,000. Finally, Cerity Partners LLC grew its holdings in shares of ONEOK by 21.5% in the 3rd quarter. Cerity Partners LLC now owns 154,250 shares of the utilities provider's stock worth $14,057,000 after acquiring an additional 27,305 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target for the company in a research report on Monday, February 10th. Wells Fargo & Company dropped their target price on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Scotiabank decreased their price objective on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company in a research note on Thursday, March 6th. Truist Financial boosted their target price 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, Barclays reduced their target price on ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ONEOK currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.00.

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ONEOK Stock Up 0.1 %

NYSE:OKE traded up $0.12 during mid-day trading on Tuesday, reaching $102.42. The stock had a trading volume of 2,672,797 shares, compared to its average volume of 2,861,109. The stock has a market cap of $63.94 billion, a P/E ratio of 21.43, a PEG ratio of 3.77 and a beta of 1.70. The business's 50 day moving average is $98.91 and its 200 day moving average is $99.99. 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 fifty-two week low of $76.23 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. 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 business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.02%. This is a boost from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio is presently 79.69%.

ONEOK Profile

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.