Blackstone Inc. lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE – Get Rating) by 25.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,652 shares of the utilities provider’s stock after purchasing an additional 59,298 shares during the period. Blackstone Inc. owned about 0.07% of ONEOK worth $15,200,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of OKE. First Command Bank increased its stake in shares of ONEOK by 401.0% during the 2nd quarter. First Command Bank now owns 491 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 393 shares in the last quarter. Worth Asset Management LLC purchased a new stake in ONEOK in the 1st quarter worth approximately $30,000. EdgeRock Capital LLC purchased a new stake in ONEOK in the 3rd quarter worth approximately $31,000. Heritage Wealth Advisors purchased a new stake in ONEOK in the 2nd quarter worth approximately $33,000. Finally, Heritage Wealth Management LLC purchased a new stake in ONEOK in the 2nd quarter worth approximately $36,000. 67.16% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on OKE. Truist Financial boosted their price objective on shares of ONEOK from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, December 21st. Seaport Res Ptn reissued a “neutral” rating on shares of ONEOK in a research report on Thursday, February 16th. Citigroup started coverage on shares of ONEOK in a research report on Thursday, December 8th. They issued a “neutral” rating and a $67.00 target price for the company. Wells Fargo & Company raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $68.00 to $75.00 in a research report on Friday, December 16th. Finally, Morgan Stanley boosted their price objective on shares of ONEOK from $70.00 to $81.00 and gave the company an “equal weight” rating in a research report on Monday, January 9th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $71.30.
ONEOK Price Performance
Shares of NYSE:OKE traded down $1.30 during trading on Tuesday, reaching $65.96. The company had a trading volume of 581,567 shares, compared to its average volume of 2,262,649. The firm’s fifty day moving average is $67.58 and its 200 day moving average is $63.07. The firm has a market capitalization of $29.48 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 1.65 and a beta of 1.68. ONEOK, Inc. has a twelve month low of $50.50 and a twelve month high of $75.07. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.50 and a current ratio of 0.67.
ONEOK Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Monday, January 30th were given a $0.955 dividend. This represents a $3.82 annualized dividend and a dividend yield of 5.79%. The ex-dividend date of this dividend was Friday, January 27th. This is an increase from ONEOK’s previous quarterly dividend of $0.94. ONEOK’s dividend payout ratio is 106.11%.
ONEOK Company Profile
ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.