Busey Bank Purchases 199 Shares of ONEOK, Inc. (NYSE:OKE)

Busey Bank raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,307 shares of the utilities provider’s stock after acquiring an additional 199 shares during the period. Busey Bank’s holdings in ONEOK were worth $1,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of OKE. International Assets Investment Management LLC raised its holdings in shares of ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after acquiring an additional 3,197,121 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of ONEOK by 3.9% during the 3rd 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. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of ONEOK during the 3rd quarter worth approximately $47,957,000. Yaupon Capital Management LP purchased a new stake in shares of ONEOK during the 3rd quarter worth approximately $45,194,000. Finally, National Bank of Canada FI raised its holdings in shares of ONEOK by 199.9% during the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock worth $63,605,000 after acquiring an additional 465,243 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a research report on Wednesday, December 18th. Barclays boosted their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Scotiabank began 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. Finally, Truist Financial boosted their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.92.

ONEOK Price Performance

OKE opened at $100.38 on Thursday. The company has a market capitalization of $58.64 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 4.03 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, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07. The business’s fifty day simple moving average is $105.51 and its 200-day simple moving average is $96.93.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the prior year, the business posted $0.99 EPS. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.10%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

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.