Intech Investment Management LLC Boosts Stake in ONEOK, Inc. (NYSE:OKE)

Intech Investment Management LLC increased its holdings in ONEOK, Inc. (NYSE:OKE) by 12.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 215,746 shares of the utilities provider’s stock after purchasing an additional 23,934 shares during the quarter. Intech Investment Management LLC’s holdings in ONEOK were worth $15,150,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in OKE. Beacon Capital Management LLC raised its position in ONEOK by 90.7% in the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 194 shares during the period. HHM Wealth Advisors LLC purchased a new position in ONEOK in the 4th quarter worth $32,000. Loomis Sayles & Co. L P raised its position in ONEOK by 605.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 478 shares during the period. SOA Wealth Advisors LLC. raised its position in ONEOK by 283.5% in the 4th quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 377 shares during the period. Finally, First Command Advisory Services Inc. purchased a new position in ONEOK in the 3rd quarter worth $40,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 0.8 %

NYSE:OKE traded up $0.66 during mid-day trading on Friday, hitting $80.85. 1,462,768 shares of the company’s stock were exchanged, compared to its average volume of 2,380,782. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48. The company has a market cap of $47.19 billion, a PE ratio of 18.80, a P/E/G ratio of 4.31 and a beta of 1.64. ONEOK, Inc. has a one year low of $56.19 and a one year high of $83.31. The business has a fifty day moving average price of $79.71 and a 200 day moving average price of $73.53.

ONEOK (NYSE:OKE) last issued its earnings results 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. The business had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same period in the previous year, the company earned $2.34 earnings per share. Equities analysts predict that ONEOK, Inc. will post 4.92 EPS for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 4.90%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Insiders Place Their Bets

In other news, Director Wayne Thomas Smith bought 2,700 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was acquired at an average cost of $75.25 per share, with a total value of $203,175.00. Following the completion of the acquisition, the director now owns 2,700 shares of the company’s stock, valued at $203,175. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Truist Financial raised their price target on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Morgan Stanley raised their price target on shares of ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. raised their price target on shares of ONEOK from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, UBS Group raised their price target on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $83.58.

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.