Norges Bank Makes New $297.95 Million Investment in ONEOK, Inc. (NYSE:OKE)

Norges Bank purchased a new position in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,243,059 shares of the utilities provider’s stock, valued at approximately $297,948,000. Norges Bank owned 0.73% of ONEOK at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OKE. Sheaff Brock Investment Advisors LLC raised its holdings in ONEOK by 1.1% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 115,604 shares of the utilities provider’s stock valued at $8,118,000 after buying an additional 1,254 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its position in ONEOK by 38.3% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 20,754 shares of the utilities provider’s stock valued at $1,457,000 after acquiring an additional 5,743 shares during the last quarter. Kentucky Retirement Systems grew its position in ONEOK by 38.6% in the 4th quarter. Kentucky Retirement Systems now owns 46,610 shares of the utilities provider’s stock valued at $3,273,000 after acquiring an additional 12,989 shares during the last quarter. Independent Advisor Alliance grew its position in ONEOK by 12.3% in the 4th quarter. Independent Advisor Alliance now owns 15,828 shares of the utilities provider’s stock valued at $1,111,000 after acquiring an additional 1,729 shares during the last quarter. Finally, Financial Advocates Investment Management grew its position in ONEOK by 6.1% in the 4th quarter. Financial Advocates Investment Management now owns 8,494 shares of the utilities provider’s stock valued at $596,000 after acquiring an additional 490 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Trading Up 0.4 %

ONEOK stock opened at $83.01 on Wednesday. ONEOK, Inc. has a one year low of $56.19 and a one year high of $83.31. The stock has a market cap of $48.45 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 4.43 and a beta of 1.64. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The stock has a 50-day moving average of $79.48 and a two-hundred day moving average of $73.26.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The firm had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same period last year, the business posted $2.34 earnings per share. On average, research analysts anticipate that ONEOK, Inc. will post 4.94 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.77%. The ex-dividend date was Tuesday, April 30th. ONEOK’s dividend payout ratio is currently 92.09%.

Wall Street Analyst Weigh In

OKE has been the topic of several research analyst reports. UBS Group upped their price objective on ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Mizuho increased their price target on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Truist Financial increased their price target on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. Stifel Nicolaus increased their price target on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, ONEOK currently has an average rating of “Hold” and an average price target of $83.58.

Insider Activity at ONEOK

In related news, Director Wayne Thomas Smith purchased 2,700 shares of ONEOK stock in a transaction that occurred on Friday, March 1st. The stock was bought at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the transaction, the director now owns 2,700 shares in the company, valued at $203,175. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

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.