Generali Investments Management Co LLC Takes Position in ONEOK, Inc. (NYSE:OKE)

Generali Investments Management Co LLC acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 4,826 shares of the utilities provider’s stock, valued at approximately $485,000.

Other institutional investors also recently made changes to their positions in the company. Kieckhefer Group LLC purchased a new stake in shares of ONEOK during the 4th quarter valued at $30,000. Canton Hathaway LLC purchased a new stake in shares of ONEOK during the 4th quarter valued at $40,000. J.Safra Asset Management Corp purchased a new stake in shares of ONEOK during the 4th quarter valued at $48,000. VSM Wealth Advisory LLC purchased a new stake in shares of ONEOK during the 4th quarter valued at $50,000. Finally, OFI Invest Asset Management purchased a new stake in shares of ONEOK during the 4th quarter valued at $51,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of OKE stock opened at $97.95 on Wednesday. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. 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 firm has a market capitalization of $61.15 billion, a P/E ratio of 20.49, a P/E/G ratio of 3.77 and a beta of 1.70. The company’s fifty day moving average price is $99.08 and its two-hundred day moving average price is $99.74.

ONEOK (NYSE:OKE) last issued 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. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 79.69%.

Analysts Set New Price Targets

Several research firms recently weighed in on OKE. Citigroup began coverage on shares of ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 target price on the stock. Barclays reduced their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Wells Fargo & Company reduced their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Truist Financial lifted their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Finally, Scotiabank reduced their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.