Royal London Asset Management Ltd. Purchases 23,009 Shares of ONEOK, Inc. (NYSE:OKE)

Royal London Asset Management Ltd. raised its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 324,806 shares of the utilities provider's stock after purchasing an additional 23,009 shares during the period. Royal London Asset Management Ltd. owned 0.06% of ONEOK worth $32,611,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of OKE. Charles Schwab Investment Management Inc. lifted 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 acquiring an additional 934,007 shares in the last quarter. Geode Capital Management LLC lifted its holdings in ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider's stock worth $1,242,449,000 after purchasing an additional 138,430 shares in the last quarter. Amundi boosted its stake in ONEOK by 5.3% in the 4th quarter. Amundi now owns 4,105,596 shares of the utilities provider's stock worth $422,261,000 after purchasing an additional 207,324 shares during the period. Janus Henderson Group PLC boosted its stake in ONEOK by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider's stock worth $341,844,000 after purchasing an additional 11,189 shares during the period. Finally, Chickasaw Capital Management LLC grew its holdings in ONEOK by 15.2% during the 4th quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider's stock valued at $200,031,000 after buying an additional 263,545 shares in the last quarter. Institutional investors own 69.13% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Citigroup started coverage on shares of ONEOK in a research report on Friday, February 28th. They issued a "buy" rating and a $110.00 price objective for the company. US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Truist Financial lifted their price objective on ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research note on Tuesday, December 3rd. Barclays decreased their target price on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. Finally, Morgan Stanley lifted their price target on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday. Seven investment 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 company's stock. According to MarketBeat, ONEOK currently has an average rating of "Moderate Buy" and a consensus price target of $105.00.

ONEOK Trading Up 0.1 %

Shares of OKE traded up $0.12 during mid-day trading on Tuesday, reaching $102.42. The company's stock had a trading volume of 2,672,797 shares, compared to its average volume of 2,859,856. 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 $76.23 and a 52 week high of $118.07. The company's fifty day moving average price is $98.91 and its two-hundred day moving average price is $99.99. The stock has a market cap of $63.94 billion, a PE ratio of 21.43, a P/E/G ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping 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 business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. On average, analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.02%. This is a positive change from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK's dividend payout ratio (DPR) is presently 79.69%.

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.