UniSuper Management Pty Ltd Boosts Stake in ONEOK, Inc. (NYSE:OKE)

UniSuper Management Pty Ltd raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 20.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,486 shares of the utilities provider’s stock after buying an additional 7,379 shares during the period. UniSuper Management Pty Ltd’s holdings in ONEOK were worth $4,366,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Kieckhefer Group LLC purchased a new position in ONEOK during the 4th quarter valued at $30,000. Canton Hathaway LLC purchased a new stake in shares of ONEOK during the fourth quarter valued at $40,000. J.Safra Asset Management Corp bought a new position in shares of ONEOK in the fourth quarter worth about $48,000. VSM Wealth Advisory LLC bought a new position in shares of ONEOK in the fourth quarter worth about $50,000. Finally, OFI Invest Asset Management bought a new stake in ONEOK during the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on OKE. 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 research report on Friday, March 7th. Scotiabank decreased their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Wells Fargo & Company dropped their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Truist Financial increased their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Finally, Wolfe Research raised shares of 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. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

ONEOK Stock Performance

Shares of OKE opened at $98.47 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a market cap of $61.48 billion, a PE ratio of 20.60, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. The stock has a fifty day moving average price of $98.32 and a 200-day moving average price of $100.11.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 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 company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. Equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 79.69%.

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.