ONEOK, Inc. (NYSE:OKE) Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,976,864 shares of the utilities provider’s stock after acquiring an additional 32,484 shares during the quarter. Clearbridge Investments LLC’s holdings in ONEOK were worth $198,477,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FMR LLC raised its holdings in ONEOK by 11.7% in the 3rd quarter. FMR LLC now owns 1,171,917 shares of the utilities provider’s stock valued at $106,797,000 after buying an additional 122,362 shares during the period. Fiduciary Trust Co raised its stake in shares of ONEOK by 41.6% in the 3rd quarter. Fiduciary Trust Co now owns 8,038 shares of the utilities provider’s stock valued at $733,000 after acquiring an additional 2,363 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of ONEOK by 1.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 275,137 shares of the utilities provider’s stock worth $25,070,000 after purchasing an additional 5,067 shares during the period. Captrust Financial Advisors boosted its position in shares of ONEOK by 0.3% during the 3rd quarter. Captrust Financial Advisors now owns 100,222 shares of the utilities provider’s stock worth $9,133,000 after purchasing an additional 297 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in ONEOK by 4.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,721 shares of the utilities provider’s stock valued at $430,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on OKE shares. Barclays decreased their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Morgan Stanley lifted their target price on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Scotiabank reduced their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Wells Fargo & Company lowered their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Finally, Truist Financial increased their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Seven 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. According to data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $105.00.

ONEOK Price Performance

OKE stock opened at $98.47 on Monday. The business has a 50 day moving average price of $98.32 and a 200 day moving average price of $100.24. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a market cap of $61.48 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07.

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 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 business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

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