Stevens Capital Management LP Buys New Stake in ONEOK, Inc. (NYSE:OKE)

Stevens Capital Management LP bought a new position in ONEOK, Inc. (NYSE:OKE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 6,583 shares of the utilities provider's stock, valued at approximately $661,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Kieckhefer Group LLC purchased a new position in ONEOK during the fourth quarter worth about $30,000. Canton Hathaway LLC purchased a new stake in shares of ONEOK during the 4th quarter valued at approximately $40,000. J.Safra Asset Management Corp acquired a new position in ONEOK in the fourth quarter valued at approximately $48,000. VSM Wealth Advisory LLC purchased a new position in ONEOK in the fourth quarter worth approximately $50,000. Finally, OFI Invest Asset Management acquired a new stake in ONEOK during the fourth quarter worth $51,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Down 0.3 %

Shares of ONEOK stock traded down $0.32 on Friday, reaching $98.36. 297,964 shares of the company were exchanged, compared to its average volume of 2,848,843. The stock's 50 day moving average price is $98.53 and its 200-day moving average price is $100.07. The company has a market cap of $61.41 billion, a P/E ratio of 20.58, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

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

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ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This is a boost from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK's dividend payout ratio is currently 79.69%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on OKE shares. Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target for the company in a report on Monday, February 10th. Barclays lowered their target price on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research note on Friday, March 7th. Truist Financial boosted their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research note on Tuesday, December 3rd. Citigroup began coverage on shares of ONEOK in a research report on Friday, February 28th. They set a "buy" rating and a $110.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.00.

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.