Dearborn Partners LLC Has $11.16 Million Position in ONEOK, Inc. (NYSE:OKE)

Dearborn Partners LLC raised its position in ONEOK, Inc. (NYSE:OKE) by 0.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 111,198 shares of the utilities provider’s stock after buying an additional 748 shares during the quarter. Dearborn Partners LLC’s holdings in ONEOK were worth $11,164,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in ONEOK by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after acquiring an additional 934,007 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of ONEOK by 1.0% in the 3rd 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 last quarter. Amundi grew its position in shares of ONEOK by 5.3% during the 4th quarter. Amundi now owns 4,105,596 shares of the utilities provider’s stock worth $422,261,000 after buying an additional 207,324 shares during the period. Janus Henderson Group PLC raised its stake in shares of ONEOK by 0.3% during the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after buying an additional 11,189 shares during the last quarter. Finally, Chickasaw Capital Management LLC lifted its holdings in ONEOK by 15.2% in the fourth quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock valued at $200,031,000 after buying an additional 263,545 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Price Performance

OKE stock opened at $91.46 on Tuesday. The stock has a 50-day moving average price of $99.81 and a two-hundred day moving average price of $99.49. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The stock has a market cap of $57.10 billion, a PE ratio of 19.13, a price-to-earnings-growth 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. Equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is a boost 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 4.50%. ONEOK’s dividend payout ratio is presently 79.69%.

Analyst Ratings Changes

A number of analysts have commented on OKE shares. Barclays lowered their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Wells Fargo & Company reduced their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Scotiabank lowered their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Finally, Citigroup began coverage on shares of ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.