ONEOK, Inc. (NYSE:OKE) Stake Lifted by Metis Global Partners LLC

Metis Global Partners LLC grew its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,453 shares of the utilities provider's stock after acquiring an additional 2,580 shares during the period. Metis Global Partners LLC's holdings in ONEOK were worth $7,977,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Arkadios Wealth Advisors boosted its holdings in shares of ONEOK by 18.8% in the third quarter. Arkadios Wealth Advisors now owns 3,315 shares of the utilities provider's stock valued at $302,000 after acquiring an additional 525 shares during the period. Pinnacle Associates Ltd. boosted its position in shares of ONEOK by 37.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 5,776 shares of the utilities provider's stock worth $526,000 after purchasing an additional 1,582 shares in the last quarter. HM Payson & Co. grew its stake in shares of ONEOK by 6.3% during the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider's stock worth $161,000 after purchasing an additional 105 shares during the period. US Bancorp DE grew its position in ONEOK by 2.4% during the third quarter. US Bancorp DE now owns 86,296 shares of the utilities provider's stock worth $7,864,000 after buying an additional 2,012 shares during the period. Finally, Stephens Inc. AR increased its stake in ONEOK by 1.0% in the 3rd quarter. Stephens Inc. AR now owns 41,028 shares of the utilities provider's stock valued at $3,739,000 after purchasing an additional 403 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Stock Down 3.5 %

Shares of OKE stock traded down $3.50 during trading hours on Monday, hitting $96.90. 1,788,247 shares of the company were exchanged, compared to its average volume of 4,003,293. The stock has a market capitalization of $60.50 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a one year low of $75.69 and a one year high of $118.07. The business's 50-day simple moving average is $100.91 and its two-hundred day simple moving average is $99.29. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. Sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.25%. ONEOK's payout ratio is 79.69%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on OKE shares. Scotiabank initiated 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 for the company. Mizuho upgraded shares of ONEOK to a "hold" rating in a report on Thursday, November 7th. Wells Fargo & Company decreased their price objective on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Citigroup started coverage on shares of ONEOK in a research note on Friday. They issued a "buy" rating and a $110.00 target price on the stock. Finally, Truist Financial increased their price target on ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a report on Tuesday, December 3rd. Seven investment 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's stock. According to MarketBeat.com, ONEOK currently has an average rating of "Moderate Buy" and an average price target of $104.15.

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.