Blue Trust Inc. Raises Stock Position in ONEOK, Inc. (NYSE:OKE)

Blue Trust Inc. grew its holdings in ONEOK, Inc. (NYSE:OKE) by 17.2% in the 4th quarter, HoldingsChannel reports. The firm owned 6,844 shares of the utilities provider’s stock after purchasing an additional 1,006 shares during the quarter. Blue Trust Inc.’s holdings in ONEOK were worth $687,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in OKE. International Assets Investment Management LLC boosted its stake in shares of ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after buying an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after acquiring an additional 661,854 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in ONEOK during the 3rd quarter worth approximately $47,957,000. Yaupon Capital Management LP purchased a new stake in shares of ONEOK in the 3rd quarter valued at approximately $45,194,000. Finally, National Bank of Canada FI raised its holdings in shares of ONEOK by 199.9% in the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock valued at $63,605,000 after purchasing an additional 465,243 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Down 0.5 %

Shares of OKE stock opened at $99.91 on Friday. ONEOK, Inc. has a 1-year low of $67.05 and a 1-year high of $118.07. The firm’s 50-day simple moving average is $105.25 and its 200-day simple moving average is $96.95. The firm has a market cap of $58.36 billion, a P/E ratio of 20.90, a PEG ratio of 4.03 and a beta of 1.70. 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) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter last year, the business earned $0.99 EPS. As a group, equities analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is 82.85%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on OKE shares. Truist Financial increased 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. Scotiabank assumed coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price on the stock. Bank of America started coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. UBS Group raised their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a report on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.92.

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.