Clearbridge Investments LLC Purchases 32,484 Shares of ONEOK, Inc. (NYSE:OKE)

Clearbridge Investments LLC raised its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,976,864 shares of the utilities provider's stock after buying an additional 32,484 shares during the quarter. Clearbridge Investments LLC owned 0.34% of ONEOK worth $198,477,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in ONEOK in the fourth quarter valued at approximately $539,554,000. Raymond James Financial Inc. acquired a new position in shares of ONEOK in the fourth quarter valued at approximately $182,694,000. ClearBridge Investments Ltd acquired a new position in shares of ONEOK during the fourth quarter worth $177,045,000. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of ONEOK by 445.4% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider's stock valued at $153,319,000 after buying an additional 1,246,963 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased 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 worth $1,848,844,000 after buying an additional 934,007 shares during the period. 69.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OKE. Truist Financial upped their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a report on Tuesday, December 3rd. 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 report on Monday, February 10th. 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. Citigroup assumed coverage on ONEOK in a research report on Friday, February 28th. They issued a "buy" rating and a $110.00 price target for the company. Finally, Morgan Stanley boosted their price target 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. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $105.00.

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ONEOK Trading Up 1.0 %

Shares of ONEOK stock traded up $1.01 during trading on Wednesday, hitting $100.51. The stock had a trading volume of 2,148,611 shares, compared to its average volume of 3,029,792. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm's fifty day simple moving average is $97.91 and its 200-day simple moving average is $100.36. The stock has a market cap of $62.75 billion, a PE ratio of 21.03, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results 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. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. 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 4.10%. The ex-dividend date of this dividend 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.