Paradigm Asset Management Co. LLC Purchases Shares of 1,500 ONEOK, Inc. (NYSE:OKE)

Paradigm Asset Management Co. LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,500 shares of the utilities provider’s stock, valued at approximately $151,000.

Several other large investors also recently modified their holdings of OKE. Charles Schwab Investment Management Inc. boosted its stake in ONEOK by 3.9% during 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of ONEOK by 1.0% during the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after purchasing an additional 138,430 shares during the period. Janus Henderson Group PLC boosted its position in shares of ONEOK by 0.3% during 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 in the last quarter. International Assets Investment Management LLC grew 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. Finally, abrdn plc increased its position in ONEOK by 14.8% in the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after buying an additional 277,514 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OKE. UBS Group increased their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a report on Wednesday, December 18th. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Truist Financial raised their price objective 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. Finally, Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Seven research 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.92.

ONEOK Trading Down 0.6 %

Shares of OKE stock opened at $98.07 on Friday. 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 company has a market capitalization of $57.29 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 3.80 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $72.44 and a 52-week high of $118.07. The company has a 50-day simple moving average of $101.19 and a two-hundred day simple moving average of $98.65.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.20%. ONEOK’s dividend payout ratio is currently 86.19%.

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.