ONEOK, Inc. (NYSE:OKE) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp raised its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,614 shares of the utilities provider's stock after purchasing an additional 7,759 shares during the period. Van ECK Associates Corp's holdings in ONEOK were worth $20,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Ritholtz Wealth Management purchased a new position in shares of ONEOK during the 3rd quarter worth about $206,000. Creative Planning lifted its stake in ONEOK by 3.2% in the third quarter. Creative Planning now owns 241,031 shares of the utilities provider's stock worth $21,965,000 after purchasing an additional 7,467 shares during the last quarter. Asset Dedication LLC boosted its position in shares of ONEOK by 318.9% during the third quarter. Asset Dedication LLC now owns 2,367 shares of the utilities provider's stock valued at $216,000 after buying an additional 1,802 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of ONEOK by 1.1% in the third quarter. Vontobel Holding Ltd. now owns 33,575 shares of the utilities provider's stock worth $3,060,000 after buying an additional 377 shares during the period. Finally, Hengehold Capital Management LLC purchased a new stake in shares of ONEOK in the third quarter worth approximately $266,000. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Up 1.2 %

Shares of NYSE:OKE traded up $1.22 on Tuesday, reaching $99.07. The company had a trading volume of 1,261,765 shares, compared to its average volume of 3,908,708. The firm has a market capitalization of $57.88 billion, a PE ratio of 20.70, a PEG ratio of 3.67 and a beta of 1.70. 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, Inc. has a 52-week low of $71.50 and a 52-week high of $118.07. The firm's 50 day simple moving average is $101.64 and its 200-day simple moving average is $98.38.

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 issued a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.16%. ONEOK's payout ratio is currently 86.19%.

Analyst Upgrades and Downgrades

OKE has been the topic of several research analyst reports. Truist Financial upped their price objective on ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research report on Tuesday, December 3rd. Wells Fargo & Company cut shares of ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 price target on the stock. in a report on Wednesday, December 18th. Mizuho upgraded shares of ONEOK to a "hold" rating in a report on Thursday, November 7th. Scotiabank started coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a "sector outperform" rating and a $109.00 target price on the stock. Finally, Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $103.92.

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.