Raymond James Financial Inc. Purchases New Shares in ONEOK, Inc. (NYSE:OKE)

Raymond James Financial Inc. purchased a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,819,665 shares of the utilities provider's stock, valued at approximately $182,694,000. Raymond James Financial Inc. owned 0.31% of ONEOK as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Kieckhefer Group LLC bought a new position in ONEOK during the fourth quarter worth $30,000. Access Investment Management LLC bought a new position in ONEOK during the third quarter worth $37,000. Canton Hathaway LLC bought a new position in ONEOK during the fourth quarter worth $40,000. J.Safra Asset Management Corp bought a new position in ONEOK during the fourth quarter worth $48,000. Finally, Versant Capital Management Inc increased its position in ONEOK by 98.1% during the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider's stock worth $53,000 after acquiring an additional 260 shares during the period. Institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

Shares of NYSE:OKE traded up $1.89 on Monday, hitting $91.46. The stock had a trading volume of 5,994,733 shares, compared to its average volume of 4,128,707. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm's 50 day moving average price is $99.81 and its 200-day moving average price is $99.49. The company has a market capitalization of $57.10 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

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

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.50%. This is a boost from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK's payout ratio is currently 79.69%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. 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. Truist Financial boosted their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a research report on Tuesday, December 3rd. Scotiabank decreased their price target on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a research note on Thursday. Finally, UBS Group lifted their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. 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 stock. Based on data from MarketBeat.com, ONEOK presently has a consensus rating of "Moderate Buy" and an average target price of $103.31.

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.