ONEOK, Inc. (NYSE:OKE) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 284,808 shares of the utilities provider's stock after selling 3,094 shares during the period. Pictet Asset Management Holding SA's holdings in ONEOK were worth $28,595,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. raised its stake in shares of ONEOK by 4.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider's stock valued at $260,000 after acquiring an additional 96 shares in the last quarter. McAdam LLC raised its position in ONEOK by 3.8% in the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider's stock valued at $262,000 after purchasing an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC boosted its stake in shares of ONEOK by 0.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider's stock valued at $1,262,000 after buying an additional 100 shares during the period. Mutual Advisors LLC grew its position in shares of ONEOK by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider's stock worth $965,000 after buying an additional 103 shares in the last quarter. Finally, Morton Capital Management LLC CA increased its stake in shares of ONEOK by 1.4% during the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider's stock worth $734,000 after buying an additional 104 shares during the period. Hedge funds and other institutional investors own 69.13% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages recently issued reports on OKE. Morgan Stanley lifted their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Truist Financial raised 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. Barclays cut their price target on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. Citigroup started coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a "buy" rating and a $110.00 price objective for the company. Finally, Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a report on Monday, February 10th. 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $105.00.

ONEOK Stock Performance

Shares of ONEOK stock traded up $1.01 during trading hours on Wednesday, hitting $100.51. 2,148,611 shares of the company were exchanged, compared to its average volume of 3,029,789. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $62.75 billion, a price-to-earnings ratio of 21.03, a P/E/G 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 business has a 50-day moving average of $97.91 and a 200-day moving average of $100.36.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data 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 net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. As a group, analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. This is an increase from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.10%. ONEOK's payout ratio is presently 79.69%.

ONEOK Company 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.