Financial Counselors Inc. Has $1.21 Million Stake in ONEOK, Inc. (NYSE:OKE)

Financial Counselors Inc. lifted its stake in ONEOK, Inc. (NYSE:OKE) by 9.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 12,043 shares of the utilities provider’s stock after purchasing an additional 1,002 shares during the quarter. Financial Counselors Inc.’s holdings in ONEOK were worth $1,209,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in shares of ONEOK in the 4th quarter valued at $182,694,000. Mitsubishi UFJ Trust & Banking Corp increased its position in ONEOK by 445.4% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider’s stock worth $153,319,000 after purchasing an additional 1,246,963 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in ONEOK by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after purchasing an additional 934,007 shares during the last quarter. GQG Partners LLC lifted its position in ONEOK by 217.2% during the 4th quarter. GQG Partners LLC now owns 1,235,012 shares of the utilities provider’s stock valued at $123,995,000 after purchasing an additional 845,715 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of ONEOK by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock valued at $7,040,075,000 after purchasing an additional 558,789 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of recent research reports. 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 target for the company. Truist Financial upped their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Morgan Stanley increased their price target on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. Finally, Wells Fargo & Company cut their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. 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, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Stock Performance

Shares of OKE stock opened at $98.76 on Friday. The company has a market capitalization of $61.66 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company’s 50 day moving average price is $98.53 and its two-hundred day moving average price is $100.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.17%. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

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.