Johnson Investment Counsel Inc. Boosts Holdings in ONEOK, Inc. (NYSE:OKE)

Johnson Investment Counsel Inc. boosted its position in ONEOK, Inc. (NYSE:OKE) by 15.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,659 shares of the utilities provider’s stock after buying an additional 2,119 shares during the period. Johnson Investment Counsel Inc.’s holdings in ONEOK were worth $1,572,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OKE. Kieckhefer Group LLC purchased a new position in ONEOK in the 4th quarter valued at $30,000. Canton Hathaway LLC acquired a new stake in ONEOK in the fourth quarter valued at $40,000. J.Safra Asset Management Corp acquired a new stake in ONEOK in the fourth quarter valued at $48,000. OFI Invest Asset Management acquired a new stake in ONEOK in the fourth quarter valued at $51,000. Finally, Versant Capital Management Inc lifted its holdings in ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 260 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Trading Up 1.3 %

Shares of OKE stock opened at $92.63 on Wednesday. The firm has a 50-day moving average price of $99.66 and a 200 day moving average price of $99.52. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07. The company has a market capitalization of $57.83 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 3.77 and a beta of 1.70. 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 (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating 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 firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. Research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.45%. ONEOK’s payout ratio is presently 79.69%.

Analyst Ratings Changes

A number of research firms have commented on OKE. Citigroup began coverage on ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 target price for the company. Truist Financial raised 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. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Monday, February 10th. Finally, UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $103.31.

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.