Sienna Gestion Acquires New Position in ONEOK, Inc. (NYSE:OKE)

Sienna Gestion bought a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 56,297 shares of the utilities provider's stock, valued at approximately $5,651,000.

Other large investors have also recently bought and sold shares of the company. Alpine Woods Capital Investors LLC boosted its holdings in shares of ONEOK by 15.2% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 45,260 shares of the utilities provider's stock worth $4,544,000 after purchasing an additional 5,987 shares during the last quarter. LBP AM SA boosted its holdings in shares of ONEOK by 3.7% during the fourth quarter. LBP AM SA now owns 197,049 shares of the utilities provider's stock worth $19,784,000 after purchasing an additional 7,122 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of ONEOK by 0.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 657,759 shares of the utilities provider's stock worth $66,039,000 after purchasing an additional 2,726 shares during the last quarter. Erste Asset Management GmbH boosted its holdings in shares of ONEOK by 25.8% during the fourth quarter. Erste Asset Management GmbH now owns 129,956 shares of the utilities provider's stock worth $13,118,000 after purchasing an additional 26,665 shares during the last quarter. Finally, Achmea Investment Management B.V. boosted its holdings in shares of ONEOK by 306.2% during the fourth quarter. Achmea Investment Management B.V. now owns 126,234 shares of the utilities provider's stock worth $12,673,000 after purchasing an additional 95,159 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

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ONEOK Stock Down 0.5 %

Shares of NYSE OKE traded down $0.50 during midday trading on Tuesday, reaching $97.95. 2,728,695 shares of the company's stock were exchanged, compared to its average volume of 2,826,963. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. The stock has a market capitalization of $61.15 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. 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 business's fifty day moving average price is $99.15 and its two-hundred day moving average price is $99.70.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (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 business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. Analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This is a positive change from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK's payout ratio is currently 79.69%.

Analyst Ratings Changes

Several research firms have recently issued reports on OKE. Barclays decreased their price objective on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. Wells Fargo & Company reduced their target price on ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Citigroup began coverage on ONEOK in a report on Friday, February 28th. They issued a "buy" rating and a $110.00 target price on the stock. Finally, Truist Financial lifted their target price 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 assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.