Generali Asset Management SPA SGR Takes $10.17 Million Position in ONEOK, Inc. (NYSE:OKE)

Generali Asset Management SPA SGR acquired a new stake in ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 101,332 shares of the utilities provider’s stock, valued at approximately $10,174,000.

A number of other large investors also recently modified their holdings of OKE. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 5.3% during 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 purchasing an additional 934,007 shares during the last quarter. Geode Capital Management LLC lifted its position in ONEOK by 1.0% during the third 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 lifted its position in ONEOK by 5.3% during the fourth quarter. Amundi now owns 4,105,596 shares of the utilities provider’s stock valued at $422,261,000 after purchasing an additional 207,324 shares during the last quarter. Janus Henderson Group PLC lifted its position in ONEOK by 0.3% during the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after purchasing an additional 11,189 shares during the last quarter. Finally, Chickasaw Capital Management LLC lifted its holdings in shares of ONEOK by 15.2% in the 4th quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock worth $200,031,000 after acquiring an additional 263,545 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

Shares of ONEOK stock opened at $98.41 on Tuesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a market cap of $61.44 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 3.77 and a beta of 1.70. The firm’s 50-day moving average is $99.15 and its 200 day moving average is $99.70. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS 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 analyst estimates of $6.18 billion. Sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.19%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is presently 79.69%.

Analyst Ratings Changes

OKE has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Scotiabank decreased their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Wells Fargo & Company decreased their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Finally, Citigroup initiated coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and a consensus price target of $103.31.

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.