Charles Schwab Investment Management Inc. Has $1.85 Billion Position in ONEOK, Inc. (NYSE:OKE)

Charles Schwab Investment Management Inc. raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,414,781 shares of the utilities provider’s stock after buying an additional 934,007 shares during the period. Charles Schwab Investment Management Inc. owned about 3.15% of ONEOK worth $1,848,844,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of OKE. Kieckhefer Group LLC acquired a new stake in shares of ONEOK during the 4th quarter valued at $30,000. Access Investment Management LLC acquired a new stake in shares of ONEOK during the 3rd quarter valued at $37,000. Canton Hathaway LLC acquired a new stake in shares of ONEOK during the 4th quarter valued at $40,000. Versant Capital Management Inc boosted its stake in shares of ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after buying an additional 260 shares during the period. Finally, FSA Wealth Management LLC acquired a new stake in shares of ONEOK during the 3rd quarter valued at $57,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of OKE stock opened at $96.57 on Tuesday. ONEOK, Inc. has a 1 year low of $75.69 and a 1 year high of $118.07. The firm’s 50 day moving average is $100.83 and its 200-day moving average is $99.35. The firm has a market capitalization of $60.29 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 3.77 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

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

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.27%. ONEOK’s dividend payout ratio (DPR) is 79.69%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on OKE shares. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a report on Monday, February 10th. Wells Fargo & Company dropped their price objective 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. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Finally, Scotiabank started coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price on the stock. Seven research 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $104.15.

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.