LPL Financial LLC Purchases 39,351 Shares of ONEOK, Inc. (NYSE:OKE)

LPL Financial LLC raised its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 3.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,286,993 shares of the utilities provider's stock after purchasing an additional 39,351 shares during the period. LPL Financial LLC owned approximately 0.22% of ONEOK worth $129,214,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OKE. Charles Schwab Investment Management Inc. lifted its position in shares of ONEOK by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider's stock valued at $1,848,844,000 after purchasing an additional 934,007 shares in the last quarter. Geode Capital Management LLC increased its stake in ONEOK by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider's stock valued at $1,242,449,000 after buying an additional 138,430 shares during the last quarter. Amundi lifted its position in shares of ONEOK by 5.3% during the 4th quarter. Amundi now owns 4,105,596 shares of the utilities provider's stock worth $422,261,000 after buying an additional 207,324 shares in the last quarter. Janus Henderson Group PLC boosted 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 worth $341,844,000 after buying an additional 11,189 shares during the last quarter. Finally, Chickasaw Capital Management LLC grew its holdings in shares of ONEOK by 15.2% in the fourth quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider's stock valued at $200,031,000 after acquiring an additional 263,545 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

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Analyst Ratings Changes

OKE has been the topic of several research analyst reports. Wells Fargo & Company cut their price objective on ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Truist Financial increased their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research report on Tuesday, December 3rd. Morgan Stanley lifted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research report on Tuesday. Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price for the company in a research report on Monday, February 10th. Finally, US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Seven investment 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $105.00.

ONEOK Stock Up 0.1 %

ONEOK stock traded up $0.12 on Tuesday, hitting $102.42. 2,672,797 shares of the stock traded hands, compared to its average volume of 2,861,109. The business's fifty day simple moving average is $98.91 and its 200 day simple moving average is $99.99. The firm has a market cap of $63.94 billion, a P/E ratio of 21.43, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. 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 posted its quarterly earnings results 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 return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion during the quarter, compared to analysts' expectations of $6.18 billion. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.02%. 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.